Wolfgang Dummer - 26 Jan 2023 Form 4 Insider Report for RIGEL PHARMACEUTICALS INC (RIGL)

Role: EVP & CMO
Signature: /s/ Raymond Furey (Attorney-in-Fact)
Issuer symbol: RIGL
Transactions as of: 26 Jan 2023
Net transactions value: $0
Form type: 4
Filing time: 30 Jan 2023, 20:45:49 UTC
Previous filing: 30 Dec 2022
Next filing: 06 Feb 2023
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
transaction	RIGL	Employee Stock Option (right to buy)	Award	$0	+50,000	+100%	$0.000000	100,000	26 Jan 2023	Common Stock	50,000	$2.42	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The Reporting Person was granted an option with a performance-based condition with respect to 50,000 shares of common stock on January 24, 2022. Thus, the exercise price of this option is $2.42 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On January 26, 2023, it was determined that the performance metric had been met.
F2	The option was fully vested on January 26, 2023, the date the determination was made that the performance metric had been met.

Content

The Reporting Person was granted an option with a performance-based condition with respect to 50,000 shares of common stock on January 24, 2022. Thus, the exercise price of this option is $2.42 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On January 26, 2023, it was determined that the performance metric had been met.

The option was fully vested on January 26, 2023, the date the determination was made that the performance metric had been met.