Jane H. Hollingsworth - Aug 31, 2023 Form 4 Insider Report for CervoMed Inc. (DFFN)

Role: Director
Signature: /s/ William R. Elder, attorney-in-fact for the Reporting Person
Stock symbol: DFFN
Transactions as of: Aug 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/6/2023, 04:31 PM
Previous filing: Jun 2, 2023
Next filing: Sep 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DFFN	Common Stock	Options Exercise		+122	+14.86%		943	Aug 31, 2023	Direct	F1
transaction	DFFN	Common Stock	Disposed to Issuer		-45	-4.77%		898	Aug 31, 2023	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	DFFN	Restricted Stock Unit	Options Exercise	$0	-122	-100%	$0.00^*	0	Aug 31, 2023	Common Stock	122		Direct	F1

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

Explanation of Responses:

Id	Content
F1	On August 31, 2023 (the "Vesting Date"), in connection with the vesting of previously awarded restricted stock units ("RSUs"), each RSU representing a contingent right to receive one share of the Issuer's common stock (a "Share"), the Reporting Person became entitled to receive, in accordance with Section 8.7 of the Issuer's 2015 Equity Incentive Plan (as amended, the "Plan") and the terms of the underlying award agreement, (i) 77 Shares and (ii) $266.40 in cash, representing the Fair Market Value (as defined in the 2015 Equity Plan) of the remaining portion of the award vested on the Vesting Date, based on the closing sale price of one Share reported by the NASDAQ Stock Market on such date of $5.92. The award is now fully vested.

Content

On August 31, 2023 (the "Vesting Date"), in connection with the vesting of previously awarded restricted stock units ("RSUs"), each RSU representing a contingent right to receive one share of the Issuer's common stock (a "Share"), the Reporting Person became entitled to receive, in accordance with Section 8.7 of the Issuer's 2015 Equity Incentive Plan (as amended, the "Plan") and the terms of the underlying award agreement, (i) 77 Shares and (ii) $266.40 in cash, representing the Fair Market Value (as defined in the 2015 Equity Plan) of the remaining portion of the award vested on the Vesting Date, based on the closing sale price of one Share reported by the NASDAQ Stock Market on such date of $5.92. The award is now fully vested.