Raul R. Rodriguez - Sep 14, 2022 Form 4 Insider Report for RIGEL PHARMACEUTICALS INC (RIGL)

Role: CEO, President, Director
Signature: /s/ Dolly Vance (Attorney-in-Fact)
Stock symbol: RIGL
Transactions as of: Sep 14, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/16/2022, 04:15 PM
Previous filing: Jun 13, 2022
Next filing: Dec 30, 2022

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	RIGL	Employee Stock Option (right to buy)	Award	$0	+300K		$0.00	300K	Sep 14, 2022	Common Stock	300K	$2.00	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person was granted an option with a performance-based condition with respect to 300,000 shares of common stock on January 23, 2019. Thus, the exercise price of this option is $2.00 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On September 14, 2022, it was determined that the performance metric had been met.
F2	The option was fully vested on September 14, 2022, the date the determination was made that the performance metric had been met.

Content

The reporting person was granted an option with a performance-based condition with respect to 300,000 shares of common stock on January 23, 2019. Thus, the exercise price of this option is $2.00 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On September 14, 2022, it was determined that the performance metric had been met.

The option was fully vested on September 14, 2022, the date the determination was made that the performance metric had been met.