Erica L. Monaco - May 18, 2022 Form 4 Insider Report for Biofrontera Inc. (BFRI)

Role
Chief Executive Officer
Signature
/s/Daniel Hakansson, Attorney-in-fact for Erica L. Monaco
Stock symbol
BFRI
Transactions as of
May 18, 2022
Transactions value $
$0
Form type
4
Date filed
5/26/2022, 09:23 AM
Previous filing
Jan 19, 2022
Next filing
Sep 19, 2022

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 BFRI Restricted Stock Units Award $0 +153K +269.32% $0.00 209K May 18, 2022 Common Stock 153K Direct F1, F2
transaction BFRI Employee stock option (right to buy) Award $0 +153K +269.32% $0.00 209K May 18, 2022 Common Stock 153K $2.61 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of BFRI common stock.
F2 The restricted stock units vest in two equal annual installments beginning on May 18, 2023. Each vested restricted stock unit will be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the applicable vesting date.
F3 The option vests in three equal annual installments beginning on May 18, 2023.