PUNIT DHILLON - 14 Dec 2021 Form 4 Insider Report for Skye Bioscience, Inc. (SKYE)

Role: Chief Executive Officer, Director
Signature: /s/ Kaitlyn Arsenault, as Attorney-in-Fact
Issuer symbol: SKYE
Transactions as of: 14 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 16 Dec 2021, 18:03:12 UTC
Previous filing: 01 Oct 2021
Next filing: 15 Nov 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SKYE	Common Stock	Award	$0	+2,000,000	+200%	$0.000000	3,000,000	14 Dec 2021	Direct	F1, F2

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	SKYE	Stock Option (Right to Buy)	Award	$0	+3,090,000		$0.000000	3,090,000	14 Dec 2021	Common Stock	3,090,000	$0.0580	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a restricted stock unit ("RSU") award that vests in three equal annual installments commencing on the first anniversary of the grant date. Upon a change in control of the Issuer, all of the RSUs will vest in full.
F2	Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F3	The option vests 25% on the one year anniversary of the grant date and 1/48th monthly thereafter. Upon a change in control of the Issuer, 100% of the options will become fully vested.