Stephen T. Wills - Jun 22, 2021 Form 4 Insider Report for PALATIN TECHNOLOGIES INC (PTN)

Role: Executive VP and CFO/COO
Signature: /s/ Stephen T. Wills, 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	+609K	+9.09%	$0.00	7.31M	Jun 22, 2021	Direct	F1
transaction	PTN	Common stock	Award	$0	+200K	+2.74%	$0.00	7.51M	Jun 22, 2021	Direct	F2
transaction	PTN	Common stock	Award	$0	+45.3K	+0.6%	$0.00	7.55M	Jun 22, 2021	Direct	F3
transaction	PTN	Common stock	Award	$0	+109K	+1.44%	$0.00	7.66M	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 options (right to buy)	Award	$0	+497K		$0.00	497K	Jun 22, 2021	Common stock	497K	$0.55	Direct	F5
transaction	PTN	Stock option (right to buy)	Award	$0	+180K		$0.00	180K	Jun 22, 2021	Common stock	180K	$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.