Carl Spana - Jun 22, 2021 Form 4 Insider Report for PALATIN TECHNOLOGIES INC (PTN)

Role
President and CEO, Director
Signature
/s/ Carl Spana, by Stephen A. Slusher, Attorney-In-Fact
Stock symbol
PTN
Transactions as of
Jun 22, 2021
Transactions value $
$0
Form type
4
Date filed
6/24/2021, 05:01 PM
Next filing
Jul 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTN Common stock Award $0 +705K +9.4% $0.00 8.2M Jun 22, 2021 Direct F1
transaction PTN Common stock Award $0 +250K +3.05% $0.00 8.45M Jun 22, 2021 Direct F2
transaction PTN Common stock Award $0 +52.9K +0.63% $0.00 8.5M Jun 22, 2021 Direct F3
transaction PTN Common stock Award $0 +126K +1.48% $0.00 8.63M Jun 22, 2021 Direct F4

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 PTN Stock option (right to buy) Award $0 +575K $0.00 575K Jun 22, 2021 Common stock 575K $0.55 Direct F5
transaction PTN Stock option (right to buy) Award $0 +209K +497483.33% $0.00 209K Jun 22, 2021 Common stock 209K $0.58 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The restricted share units vest at the rate of 25% per year, starting on June 22, 2022.
F2 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The restricted share units vest only if within two years of the date of grant for a twenty consecutive trading day period the price of common stock on the NYSE American for Palatin Technologies, Inc. closes at $2.00 per share or greater.
F3 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 24, 2019, vested in part on June 22, 2021, upon certification by the Compensation Committee that a defined performance objective as to 78% of the target number of share units for the fiscal year ending June 30, 2021 had been achieved, based on performance criteria relating to advancement of melanocortin receptor-1 programs, including initiation of clinical trials, and progress in commercialization of Vyleesi.
F4 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 16, 2020, vested in part on June 22, 2021, upon certification by the Compensation Committee that a defined performance objective as to 78% of the target number of share units for the fiscal year ending June 30, 2021 had been achieved, based on performance criteria relating to advancement of melanocortin receptor-1 programs, including initiation of clinical trials, and progress in commercialization of Vyleesi.
F5 The options vest at the rate of 25% per year, starting on June 22, 2022.
F6 Stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock. The performance condition stock option grant, made June 16, 2020, vested in part on June 22, 2021, upon certification by the Compensation Committee that a defined performance objective as to 78% of the target number of stock option shares for the fiscal year ending June 30, 2021 had been achieved, based on performance criteria relating to advancement of melanocortin receptor-1 programs, including initiation of clinical trials, and progress in commercialization of Vyleesi.