Joseph D. Dowling - 30 Mar 2022 Form 4 Insider Report for CV Sciences, Inc. (CVSI)

Role
CEO, Director
Signature
/s/ Joseph Dowling
Issuer symbol
CVSI
Transactions as of
30 Mar 2022
Net transactions value
$0
Form type
4
Filing time
01 Apr 2022, 20:15:40 UTC
Next filing
17 Mar 2023
SEC
View on sec.gov

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 CVSI Employee Stock Option (right to buy) Disposed to Issuer -1,500,000 -100% 0 30 Mar 2022 Common Stock 1,500,000 $0.3300 Direct F1, F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -1,500,000 -100% 0 30 Mar 2022 Common Stock 1,500,000 $0.5900 Direct F2, F3
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -500,000 -100% 0 30 Mar 2022 Common Stock 500,000 $0.6600 Direct F1, F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -500,000 -100% 0 30 Mar 2022 Common Stock 500,000 $0.4000 Direct F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -100,000 -100% 0 30 Mar 2022 Common Stock 100,000 $0.3800 Direct F2, F4
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -200,000 -100% 0 30 Mar 2022 Common Stock 200,000 $0.7300 Direct F1, F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -100,000 -100% 0 30 Mar 2022 Common Stock 100,000 $0.3800 Direct F1, F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -600,000 -100% 0 30 Mar 2022 Common Stock 600,000 $0.3800 Direct F1, F2
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -1,000,000 -100% 0 30 Mar 2022 Common Stock 1,000,000 $0.3680 Direct F2, F5
transaction CVSI Employee Stock Option (right to buy) Disposed to Issuer -1,000,000 -100% 0 30 Mar 2022 Common Stock 1,000,000 $0.3650 Direct F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option is durational based. All option shares were vested and exercisable on the date of cancellation.
F2 On March 30, 2022, the stock options were cancelled by mutual agreement of the reporting person and the issuer. The reporting person received an aggregate of $100 as consideration for the cancellation.
F3 The option is durational based. 750,000 option shares were vested and exercisable on the date of cancellation. Twenty-five (25%) of the option shares were scheduled to vest and become exercisable on September 1, 2022 and March 1, 2023, provided, that there was no termination of service as of such date.
F4 The option was fully vested on the date of grant.
F5 The option is performance-based. 500,000 option shares were vested and exercisable on the date of cancellation. The remaining option shares were scheduled to vest and become exercisable in accordance with certain performance criteria which were not met at the date of cancellation.
F6 The option is performance-based. 250,000 option shares were vested and exercisable on the date of cancellation. The remaining option shares were scheduled to vest and become exercisable in accordance with certain performance criteria which were not met at the date of cancellation.