L. Peterson - Feb 15, 2023 Form 4 Insider Report for Ocean Biomedical, Inc. (OCEA)

Role
Director
Signature
/s/ Katherine E. Spiser, as attorney-in-fact for Michael L. Peterson
Stock symbol
OCEA
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
4
Date filed
2/17/2023, 07:24 PM
Previous filing
Jan 20, 2023
Next filing
Mar 2, 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 OCEA Stock Option (right to buy) Award $0 +75K $0.00 75K Feb 15, 2023 Common Stock 75K $10.00 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a right to purchase 75,000 shares of the common stock, par value $0.0001 per share (collectively, the "Option Shares"), of Ocean Biomedical, Inc. (the "Issuer") upon the exercise of a ten-year option granted to the Reporting Person as a non-employee director of the Issuer on February 15, 2023 under the Issuer's 2022 Stock Option and Incentive Plan. This option becomes exercisable in 36 monthly installments beginning on March 15, 2023, with 2,083 Option Shares becoming exercisable on each of the first 35 installments and the remaining 2,095 Option Shares becoming exercisable on the final installment, subject to the Reporting Person remaining in service as a member of the Issuer's board of directors on each installment date. This option is exercisable at an exercise price per Option Share equal to the greater of (i) $10, or (ii) the closing trading price of the Issuer's common stock on February 15, 2023, which was $6.06.

Remarks:

Exhibit List - Exhibit 24.1: Power of Attorney (Michael L. Peterson)