Stephen T. Wills - Jun 4, 2024 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 4, 2024
Transactions value $: $0
Form type: 4
Date filed: 7/16/2024, 04:31 PM
Previous filing: Feb 2, 2024
Next filing: Jul 31, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PTN	Common Stock	Award	$0	+69K	+30.31%	$0.00	297K	Jul 15, 2024	Direct	F1
transaction	PTN	Common Stock	Award	$0	+7.05K	+2.38%	$0.00	304K	Jun 4, 2024	Direct	F2
transaction	PTN	Common Stock	Award	$0	+5.11K	+1.68%	$0.00	309K	Jun 4, 2024	Direct	F3
transaction	PTN	Common Stock	Award	$0	+4.62K	+1.49%	$0.00	313K	Jun 4, 2024	Direct	F4
transaction	PTN	Common Stock	Award	$0	+12.2K	+3.9%	$0.00	326K	Jun 4, 2024	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	+99K	+55.8%	$0.00	276K	Jul 15, 2024	Common Stock	99K	$1.83	Direct	F6
transaction	PTN	Stock Option (Right to Buy)	Award	$0	+11.7K	+4.23%	$0.00	288K	Jun 4, 2024	Common Stock	11.7K	$14.50	Direct	F7
transaction	PTN	Stock Option (Right to Buy)	Award	$0	+12.4K	+4.31%	$0.00	301K	Jun 4, 2024	Common Stock	12.4K	$13.75	Direct	F8
transaction	PTN	Stock Option (Right to Buy)	Award	$0	+6.87K	+2.28%	$0.00	307K	Jun 4, 2024	Common Stock	6.87K	$7.25	Direct	F9
transaction	PTN	Stock Option (Right to Buy)	Award	$0	+19.1K	+6.22%	$0.00	327K	Jun 4, 2024	Common Stock	19.1K	$2.19	Direct	F10

* 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 4, 2025. The restricted share units were granted by the Compensation Committee on June 4, 2024, which grant was subject to certification by the Chief Financial Officer that the shareholders had increased the shares reserved under the 2011 Stock Incentive Plan, and that there were no impediments to the grant of the options. The required certification was made on July 15, 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 16, 2020, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
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 22, 2021, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
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, 2022, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
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 20, 2023, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
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, and which vest at the rate of 25% per year, with the initial vesting on June 4, 2025. The options were granted by the Compensation Committee on June 4, 2024, which grant was subject to certification by the Chief Financial Officer that the shareholders had increased the shares reserved under the 2011 Stock Incentive Plan, and that there were no impediments to the grant of the options. The required certification was made on July 15, 2024.
F7	Performance-based 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 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F8	Performance-based 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 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F9	Performance-based 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 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F10	Performance-based 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 20, 2023, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.