Stephen T. Wills - Jun 22, 2022 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, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/24/2022, 07:32 PM
Previous filing: Jan 3, 2022
Next filing: Jun 28, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PTN	Common Stock	Award	$0	+395K	+4.53%	$0.00	9.11M	Jun 22, 2022	Direct	F1
transaction	PTN	Common Stock	Award	$0	+47.5K	+0.52%	$0.00	9.16M	Jun 22, 2022	Direct	F2
transaction	PTN	Common Stock	Award	$0	+127K	+1.39%	$0.00	9.28M	Jun 22, 2022	Direct	F3
transaction	PTN	Common Stock	Award	$0	+36K	+0.39%	$0.00	9.32M	Jun 22, 2022	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	+588K		$0.00	588K	Jun 22, 2022	Common Stock	588K	$0.29	Direct	F5
transaction	PTN	Stock Option (Right to Buy)	Award	$0	+211K		$0.00	211K	Jun 22, 2022	Common Stock	211K	$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, 2023.
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 performance condition grant, made June 24, 2019, vested in part on June 22, 2022, upon certification by the Compensation Committee that a defined performance objective as to 75% of the target number of share units for the fiscal year ending June 30, 2022 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.
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 16, 2020, vested in part on June 22, 2022, upon certification by the Compensation Committee that a defined performance objective as to 75% of the target number of share units for the fiscal year ending June 30, 2022 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 22, 2021, vested in part on June 22, 2022, upon certification by the Compensation Committee that a defined performance objective as to 75% of the target number of share units for the fiscal year ending June 30, 2022 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, 2023.
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, 2022, upon certification by the Compensation Committee that a defined performance objective as to 75% of the target number of stock option shares for the fiscal year ending June 30, 2022 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.