Andrew Novak - Apr 21, 2022 Form 4 Insider Report for Novan, Inc. (NOVNQ)

Role
VP, Accounting and Bus Ops
Signature
/s/ John M. Gay, by power of attorney
Stock symbol
NOVNQ
Transactions as of
Apr 21, 2022
Transactions value $
$0
Form type
4
Date filed
6/9/2022, 05:27 PM
Previous filing
May 28, 2021

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 NOVNQ Restricted Stock Units Award $0 +8.4K $0.00 8.4K Apr 21, 2022 Common Stock 8.4K Direct F1, F2
transaction NOVNQ Stock Option (Right to Buy) Award $0 +12.6K $0.00 12.6K Apr 21, 2022 Common Stock 12.6K $2.98 Direct F3
* 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 restricted stock units ("RSUs"), and each RSU represents a contingent right to receive one share of the Issuer's Common Stock.
F2 The RSUs shall be fully vested on March 15, 2024, which is the second anniversary of the vesting commencement date.
F3 The option vests in three equal annual installments, with the first installment vesting on March 15, 2023.