Zachary Rome - 04 Mar 2022 Form 4 Insider Report for Timber Pharmaceuticals, Inc.

Role
Director
Signature
/s/ Joseph Lucchese, Power of Attorney
Issuer symbol
N/A
Transactions as of
04 Mar 2022
Net transactions value
-$4,703
Form type
4
Filing time
15 Apr 2022, 16:10:26 UTC
Previous filing
16 Sep 2021
Next filing
14 Oct 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TMBR Common Stock, par value $0.001 per share Options Exercise $793 +79,326 $0.0100* 79,326 04 Mar 2022 Direct
transaction TMBR Common Stock, par value $0.001 per share Tax liability $5,496 -19,630 -25% $0.2800* 59,696 04 Mar 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TMBR Value Appreciation Rights Disposed to Issuer $0 -52,884 -40% $0.000000 79,326 04 Mar 2022 Common Stock, par value $0.001 per share 52,884 $0.0100 Direct F2
transaction TMBR Value Appreciation Rights Options Exercise $0 +79,326 $0.000000* 0 04 Mar 2022 Common Stock, par value $0.001 per share 79,326 $0.0100 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock, par value $0.001 per share (the "Common Stock") of Timber Pharmaceuticals, Inc. (the "Issuer") withheld by the Issuer to satisfy tax withholding obligations on the exercise of value appreciation rights ("VARs").
F2 The VARs were to vest in five equal annual installments commencing on March 1, 2019, so long as the Reporting Person remained employed by the Issuer or its affiliates. The Reporting Person stepped down from his positions as the Chief Operating Officer and Executive Vice President of the Issuer effective March 4, 2022. As a result, the VARs were exercisable as of March 4, 2022.