Richard W. Siegel - 20 Dec 2022 Form 4 Insider Report for NANOPHASE TECHNOLOGIES Corp (SLSN)

Footnote F1

Each share of deferred common stock represents a right to receive one share of common stock.

Footnote F2

The deferred common stock becomes payable upon the reporting person's termination of service as a director of the Company.

Footnote F3

Pursuant to such plan, the reporting person elected to defer receipt of such shares and receive a cumulative total of 20,030 shares of deferred common stock which will all be accounted for under the Company's Non-Employee Director Deferred Compensation Plan.

Footnote F4

Subject to certain rights and restrictions, beginning on this date, options vest in three equal annual installments.

Footnote F5

Beginning on this date, subject to certain restrictions, the stock option vests in three equal annual installments.

Footnote F6

The stock appreciation rights payable upon the reporting person's termination of service as a director of the Company were terminated, with stock options issued at identical exercise prices to the conversion prices of the respective stock appreciation rights. 2,000 were issued with an exercise price of $0.90, 2,000 were issued with an exercise price of $1.05, 2,000 were issued with an exercise price of $1.18, 2,000 were issued with an exercise price of $0.84, 2,000 were issued with an exercise price of $1.85, 2,000 were issued with an exercise price of $1.10, and 2,000 were issued with an exercise price of $0.99.