Michael Abrams - 10 May 2021 Form 3 Insider Report for Arch Therapeutics, Inc. (ARTHQ)

Role: CFO and Treasurer
Signature: /s/ Michael S. Abrams
Issuer symbol: ARTHQ
Transactions as of: 10 May 2021
Net transactions value: $0
Form type: 3
Filing time: 10 May 2021, 08:02:10 UTC
Next filing: 01 Oct 2021
SEC: View on sec.gov

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
holding	ARTH	Stock Option (Right to Buy)							10 May 2021	Common Stock	500,000	$0.1329	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	33.3% of the shares subject to the option shall vest on the one-year anniversary of the the grant date, and 1/24th of the remaining unvested shares subject to this grant shall vest commencing on each f the next twenty-four (24) monthly anniversaries thereater, subject to the Exectuive's continued service for the Company through each vesting date. In the event of a Change of Control (such as defined in the Plan), then, in any such case, 100% of the number of unvested Shares then subject to the grant shall accelerate and become vested as of the date of such event.

Content

33.3% of the shares subject to the option shall vest on the one-year anniversary of the the grant date, and 1/24th of the remaining unvested shares subject to this grant shall vest commencing on each f the next twenty-four (24) monthly anniversaries thereater, subject to the Exectuive's continued service for the Company through each vesting date. In the event of a Change of Control (such as defined in the Plan), then, in any such case, 100% of the number of unvested Shares then subject to the grant shall accelerate and become vested as of the date of such event.