Dan Yrigoyen - 30 Jul 2021 Form 4 Insider Report for Arch Therapeutics, Inc. (ARTH)

Role: Vice President, Sales
Signature: /s/ Dan Yrigoyen
Issuer symbol: ARTH
Transactions as of: 30 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 11 Aug 2021, 17:17:55 UTC
Previous filing: 11 Aug 2021
Next filing: 01 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ARTH	Common Stock	Award	$0	+150,000		$0.000000	150,000	30 Jul 2021	Direct	F1

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	ARTH	Stock Option (right to buy)	Award	$0	+150,000		$0.000000	150,000	30 Jul 2021	Common Stock	150,000	$0.0900	Direct	F2

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

Explanation of Responses:

Id	Content
F1	1/3 of the Shares (50,000) shall vest on each of the six (6), twelve (12) and eighteen month anniversaries of 7/12/2021, the vesting commencement date.
F2	The Shares subject to the Option, 1/3 (50,000) shall vest on the anniversary of the vesting commencement date (7/12/21), and 1/24 of the remaining shares shall vest on each of the next twenty-four monthly anniversaries 7/12/2022, subject to continued service to the Company through each vesting date. In the event of a Change of Control (as such term is defined in the Plan), then, in any such case, 100% of the number of unvested shares then subject to the option and then subject to any other then-outstanding stock option or other equity award that may have been granted under or outside of the Plan shall accelerate and become vested as of the date of such event.

Content

1/3 of the Shares (50,000) shall vest on each of the six (6), twelve (12) and eighteen month anniversaries of 7/12/2021, the vesting commencement date.

The Shares subject to the Option, 1/3 (50,000) shall vest on the anniversary of the vesting commencement date (7/12/21), and 1/24 of the remaining shares shall vest on each of the next twenty-four monthly anniversaries 7/12/2022, subject to continued service to the Company through each vesting date. In the event of a Change of Control (as such term is defined in the Plan), then, in any such case, 100% of the number of unvested shares then subject to the option and then subject to any other then-outstanding stock option or other equity award that may have been granted under or outside of the Plan shall accelerate and become vested as of the date of such event.