William B. Horne - 30 Nov 2022 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

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

Type	Sym	Class	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	ALZN	Stock Options (Right to Buy)	0	30 Nov 2022	Common Stock	250,000	$1.50	Direct	F1
holding	ALZN	Stock Options (Right to Buy)	2,000,000	30 Nov 2022	Common Stock	2,000,000	$0.000400	Direct	F2
holding	ALZN	Stock Options (Right to Buy)	250,000	30 Nov 2022	Common Stock	250,000	$1.50	Direct	F3

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

Id	Content
F1	Mr. Horne was granted options, exercisable for 10 years, to purchase 250,000 shares of the Issuer's common stock, of which (i) 50% would vest if the Issuer's common stock closed at or above $10.00 per share for 90 consecutive trading days, and (ii) 10% would vest for each $2.00 per share increment above $10.00 per share for 90 consecutive trading days, with 100% vesting if the Issuer's common stock closed at or above $20.00 per share for 90 consecutive trading days. After November 27, 2026, the number of any unvested shares subject to the option would decrease by 25%. On November 22, 2022, the Issuer modified the vesting criteria of these options to reduce the price targets, which were previously between $10.00 and $40.00 per share, and to extend the period of time for vesting before the 25% of unvested shares subject to the option would be decreased.
F2	These options were fully vested on issuance.
F3	The stock options vested ratably over 36 months beginning on the date of grant. and are fully vested.