Kaitlyn Arsenault - Feb 29, 2024 Form 4/A Insider Report for Skye Bioscience, Inc. (SKYE)

Role: Chief Financial Officer
Signature: /s/ Kaitlyn Arsenault
Stock symbol: SKYE
Transactions as of: Feb 29, 2024
Transactions value $: $0
Form type: 4/A
Date filed: 3/4/2024, 06:15 AM
Date Of Original Report: Mar 1, 2024
Previous filing: Nov 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SKYE	Common Stock	Award	$0	+25K	+13.53%	$0.00	210K	Feb 29, 2024	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	+75K		$0.00	75K	Feb 29, 2024	Common Stock	75K	$14.56	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 on the following milestones: 25% vests upon achieving a market cap of $750M and a stock price of $20.00 per share, an additional 25% vests upon achieving a market cap of $1B and a stock price of $25.00 per share, an additional 25% vests upon achieving a market cap of $1.25B and a stock price of $30.00 per share, an additional 25% vest upon achieving a market cap of $1.5B or greater and a stock price of $35.00 per share; provided, however, that no RSUs shall vest until the compensation committee of the Issuer determines that shares can be sold into the market to cover withholding tax obligations associated with the vesting of the RSUs. Upon a change in control of the Issuer, 100% of the RSU's will become fully vested.
F2	Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F3	The option grant shall be exercisable for a price of $14.56 per option share for ten years from February 29, 2024 and the options will vest in equal monthly installments over the four year period beginning February 29, 2024. Upon a change in control of the Issuer, 100% of the options will become fully vested.