Stephen T. Wills - Jun 20, 2023 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 20, 2023
Transactions value $
$0
Form type
4
Date filed
6/22/2023, 05:00 PM
Previous filing
Feb 10, 2023
Next filing
Aug 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTN Common Stock Award $0 +57.5K +21.2% $0.00 329K Jun 20, 2023 Direct F1
transaction PTN Common Stock Award $0 +1.66K +0.5% $0.00 330K Jun 20, 2023 Direct F2
transaction PTN Common Stock Award $0 +4.54K +1.38% $0.00 335K Jun 20, 2023 Direct F3
transaction PTN Common Stock Award $0 +3.2K +0.95% $0.00 338K Jun 20, 2023 Direct F4
transaction PTN Common Stock Award $0 +2.47K +0.73% $0.00 341K Jun 20, 2023 Direct F5

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 +90K $0.00* 0 Jun 20, 2023 Common Stock 90K $2.19 Direct F6
transaction PTN Stock Option (Right to Buy) Award $0 +7.53K $0.00* 0 Jun 20, 2023 Common Stock 7.53K $14.50 Direct F7
transaction PTN Stock Option (Right to Buy) Award $0 +7.77K $0.00* 0 Jun 20, 2023 Common Stock 7.77K $13.75 Direct F8
transaction PTN Stock Option (Right to Buy) Award $0 +3.67K $0.00* 0 Jun 20, 2023 Common Stock 3.67K $7.25 Direct F9
* 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, with the initial vesting on June 20, 2024.
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 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of share units for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
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 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of share units for the fiscal year ending June 30, 2020 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
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 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of share units for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
F5 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, 2022, vested in part on June 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of share units for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
F6 The options vest at the rate of 25% per year, with the initial vesting on June 20, 2024.
F7 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 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of stock option shares for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
F8 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 22, 2021, vested in part on June 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of stock option shares for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.
F9 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 22, 2022, vested in part on June 20, 2023, upon certification by the Compensation Committee that a defined performance objective as to 63% of the target number of stock option shares for the fiscal year ending June 30, 2023 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. All share numbers in this Form 4 give effect to a 1-for-25 reverse split of issued and outstanding common stock effective on August 30, 2022.