David J. Katzoff - Nov 30, 2022 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

Signature
/s/ David J. Katzoff
Stock symbol
ALZN
Transactions as of
Nov 30, 2022
Transactions value $
$0
Form type
4
Date filed
11/30/2022, 03:30 PM
Previous filing
Sep 14, 2022
Next filing
Jun 28, 2023

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
holding ALZN Stock Option (Right to Buy) 0 Nov 30, 2022 Common Stock 1M $1.50 Direct F1
holding ALZN Stock Option (Right to Buy) 400K Nov 30, 2022 Common Stock 400K $1.50 Direct F2
holding ALZN Stock Option (Right to Buy) 638K Nov 30, 2022 Common Stock 850K $1.50 Direct F3
holding ALZN Stock Option (Right to Buy) 188K Nov 30, 2022 Common Stock 250K $1.50 Direct F4
holding ALZN Warrants 9K Nov 30, 2022 Common Stock 9K $1.50 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Katzoff was granted options, exercisable for 10 years, to purchase 1,000,000 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 The stock options vest ratably over 48 months beginning on January 19, 2019.
F3 The stock options vest ratably over 16 quarters beginning on October 31, 2019.
F4 The stock options vest ratably over 16 quarters beginning on November 25, 2019.