John David Finley - Feb 6, 2023 Form 4 Insider Report for PALISADE BIO, INC. (PALI)

Signature
/s/ JD Finley
Stock symbol
PALI
Transactions as of
Feb 6, 2023
Transactions value $
$0
Form type
4
Date filed
2/8/2023, 08:01 PM
Previous filing
Jan 6, 2023
Next filing
Apr 5, 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
transaction PALI Restricted Stock Units Award $0 +41.7K $0.00 41.7K Feb 6, 2023 Common Stock 41.7K Direct F1, F2, F3, F4
transaction PALI Restricted Performance Stock Units Award $0 +32.5K $0.00 32.5K Feb 6, 2023 Common Stock 32.5K Direct F1, F2, F3
transaction PALI Common Stock Purchase Option Award $0 +57.2K $0.00 57.2K Feb 6, 2023 Common Stock 57.2K $2.40 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each grant represents a one-time bonus grant to Reporting Person for services as an executive officer for the year ended December 31, 2022. The grants were issued from the Issuer's 2021 Equity Incentive Plan. Vesting for each grant is subject to: (a) the Reporting Person being a service provider to the Issuer at the time of vesting and (b) shareholder approval of the applicable grant is received.
F2 The applicable grant will vest: with respect to the Restricted Stock Units ("RSUs") and Common Stock Purchase Options ("Options"), in twelve (12) equal quarterly installments over a three-year period from the grant date, and with respect to the Performance Restricted Stock Units ("PSUs"), (i) 50% at such time when the volume weighted average price of the Company's common stock over a twenty (20) consecutive trading day period is at or greater than $3.20, and (ii) 50% at such time when the volume weighted average price of the Company's common stock over a twenty (20) consecutive trading day period is at or greater than $4.25
F3 Each RSU or PSU represents a contingent right to receive one share of Issuer's common stock.
F4 N/A