Sukhwinder Singh Rai - Nov 10, 2022 Form 4 Insider Report for Skye Bioscience, Inc. (SKYE)

Role
Director
Signature
/s/ Kaitlyn Arsenault, as Attorney-in-Fact
Stock symbol
SKYE
Transactions as of
Nov 10, 2022
Transactions value $
$0
Form type
4
Date filed
11/15/2022, 11:24 AM
Next filing
Nov 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYE Common Stock Award +22.2K 22.2K Nov 10, 2022 Trust F1, F2
transaction SKYE Common Stock Award +73.6K 73.6K Nov 10, 2022 Shares held by wife of Reporting Person F1, F3

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 +390K 390K Nov 10, 2022 Common Stock 390K $1.60 Direct F4, F5
transaction SKYE Stock Option (Right to Buy) Award +146K 146K Nov 10, 2022 Common Stock 146K $1.71 Direct F4, F5
transaction SKYE Stock Option (Right to Buy) Award +146K 146K Nov 10, 2022 Common Stock 146K $0.11 Direct F4, F6
transaction SKYE Stock Option (Right to Buy) Award +195K 195K Nov 10, 2022 Common Stock 195K $0.08 Direct F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person acquired these securities on November 10th, 2022, in exchange for the reporting person's securities of Emerald Health Therapeutics, Inc., which the company acquired by way of a plan of arrangement pursuant to the Arrangement Agreement, dated as of May 11, 2022 (as amended, the "Arrangement Agreement"). Pursuant to the terms of the Arrangement Agreement, each holder of EHT shares received 1.95 shares of company common stock for each EHT share (the "Exchange Ratio").
F2 The shares are held through the Canaccord Genuity Trust.
F3 For each indirect account, Mr. Rai disclaims beneficial ownership except to the extent of his pecuniary interest, if any.
F4 The reporting person acquired these securities on November 10th, 2022, in exchange for the reporting person's securities of Emerald Health Therapeutics, Inc., which the company acquired by way of a plan of arrangement pursuant to the Arrangement Agreement. Pursuant to the terms of the Arrangement Agreement, each option to purchase EHT shares was exchanged into an option to purchase shares of company common stock, with the number of shares underlying each option (and the exercise price of such option) adjusted based on the Exchange Ratio.
F5 The options underlying this award are fully vested.
F6 The options vest, or have vested, in equal installments on each of February 6, 2020, February 6, 2021, February 6, 2022, February 6, 2023.
F7 8.33% of the options vested on the grant date of August 3, 2020. 8.33% of the options vest, or have vested, on each monthly anniversary of the grant date.