Richard E. Buller - 17 May 2022 Form 4 Insider Report for Celcuity Inc. (CELC)

Role: Director
Signature: /s/ Eric O. Madson as Attorney-in-Fact for Richard E. Buller pursuant to Power of Attorney previously filed.
Issuer symbol: CELC
Transactions as of: 17 May 2022
Transactions value $: $0
Form type: 4
Filing time: 19 May 2022, 20:40:11 UTC
Previous filing: 22 Apr 2022
Next filing: 23 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CELC	Common Stock	Award	$0	+3,273	+38%	$0	11,798	17 May 2022	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	CELC	Stock Option (right to buy)	Disposed to Issuer		-4,555	-100%		0	17 May 2022	Common Stock	4,555	$10.68	Direct	F2, F4
transaction	CELC	Stock Option (right to buy)	Award		+4,555			4,555	17 May 2022	Common Stock	4,555	$5.5	Direct	F2, F4
transaction	CELC	Stock Option (right to buy)	Disposed to Issuer		-2,310	-100%		0	17 May 2022	Common Stock	2,310	$26.99	Direct	F2, F4
transaction	CELC	Stock Option (right to buy)	Award		+2,310			2,310	17 May 2022	Common Stock	2,310	$5.5	Direct	F2, F4
transaction	CELC	Stock Option (right to buy)	Award	$0	+19,558		$0	19,558	17 May 2022	Common Stock	19,558	$5.5	Direct	F3
holding	CELC	Stock Option (right to buy)						12,654	17 May 2022	Common Stock	12,654	$5.1	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents 3,273 shares of restricted stock for which risks of forfeiture lapse on April 30, 2023, or if earlier, the date of the Company's 2023 Annual Meeting of Stockholders.
F2	100% vested.
F3	This Option will vest and become exercisable on April 30, 2023, or if earlier, the date of the Company's 2023 Annual Meeting of Stockholders.
F4	The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on May 17, 2022 and are being reported in this manner solely to comply with the technical reporting requirements under Section 16(a) of the Securities Exchange Act of 1934. Pursuant to the Option Repricing, the exercise price of the Stock Option has been amended to reduce such exercise price to $5.50 per share, the closing price of the issuer's common stock on The Nasdaq Capital Market as of the date of such repricing. There have been no other changes to the terms of the Stock Option.