John William Tanner - Nov 20, 2023 Form 4 Insider Report for CervoMed Inc. (CRVO)

Signature
/s/ William R. Elder, attorney-in-fact for the Reporting Person
Stock symbol
CRVO
Transactions as of
Nov 20, 2023
Transactions value $
$0
Form type
4
Date filed
11/22/2023, 04:05 PM
Previous filing
Sep 15, 2023
Next filing
Jan 26, 2024

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 CRVO Stock Option (Right to Buy) Award $0 +32K $0.00 32K Nov 20, 2023 Common Stock 32K $9.82 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 20, 2023, the Reporting Person was granted an option to purchase 32,000 shares of the Issuer's common stock in accordance with the terms of the Employment Agreement, dated November 15, 2023, by and between the Reporting Person and the Issuer; provided, however, that the Reporting Person's continued holding of the grant is contingent upon the annual automatic increase in the number of shares available for issuance under the Issuer's 2015 Equity Incentive Plan, as amended (the "Plan") on January 1, 2024 pursuant to Section 4.1 of the Plan (together with any other shares available for issuance under the Plan as of such date) being sufficient to cover all shares of the Issuer's common stock underlying the grant.
F2 Subject to the conditions described in Note 1, 1/24 of the shares underlying the option grant will vest on January 1, 2024, and thereafter the award will vest in substantially equal 1/36th increments on the last day of each month, commencing January 31, 2024, through the last day of the month containing the third anniversary of the grant date, subject to the Reporting Person's continued employment with the Company through the applicable vesting date.