CARL SPANA - 15 Jul 2024 Form 4 Insider Report for PALATIN TECHNOLOGIES INC (PTN)

Role
President and CEO, Director
Signature
/s/ Carl Spana
Issuer symbol
PTN
Transactions as of
15 Jul 2024
Net transactions value
$0
Form type
4
Filing time
16 Jul 2024, 16:31:58 UTC
Previous filing
16 Aug 2023
Next filing
31 Jul 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTN Common Stock Award $0 +79,000 +31% $0.000000 331,686 15 Jul 2024 Direct F1
transaction PTN Common Stock Award $0 +8,185 +2.5% $0.000000 339,871 04 Jun 2024 Direct F2
transaction PTN Common Stock Award $0 +5,673 +1.7% $0.000000 345,544 04 Jun 2024 Direct F3
transaction PTN Common Stock Award $0 +5,318 +1.5% $0.000000 350,862 04 Jun 2024 Direct F4
transaction PTN Common Stock Award $0 +14,025 +4% $0.000000 364,887 04 Jun 2024 Direct F5

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 PTN Stock Option (Right to Buy) Award $0 +113,500 +56% $0.000000 316,537 15 Jul 2024 Common Stock 113,500 $1.83 Direct F6
transaction PTN Stock Option (Right to Buy) Award $0 +13,565 +4.3% $0.000000 330,102 04 Jun 2024 Common Stock 13,565 $14.50 Direct F7
transaction PTN Stock Option (Right to Buy) Award $0 +14,357 +4.3% $0.000000 344,459 04 Jun 2024 Common Stock 14,357 $13.75 Direct F8
transaction PTN Stock Option (Right to Buy) Award $0 +7,912 +2.3% $0.000000 352,371 04 Jun 2024 Common Stock 7,912 $7.25 Direct F9
transaction PTN Stock Option (Right to Buy) Award $0 +21,993 +6.2% $0.000000 374,364 06 May 2024 Common Stock 21,993 $2.19 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The restricted share units vest at the rate of 25% per year, with the initial vesting on June 4, 2025. The restricted share units were granted by the Compensation Committee on June 4, 2024, which grant was subject to certification by the Chief Financial Officer that the shareholders had increased the shares reserved under the 2011 Stock Incentive Plan, and that there were no impediments to the grant of the options. The required certification was made on July 15, 2024.
F2 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 16, 2020, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
F3 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 22, 2021, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
F4 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 22, 2022, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
F5 Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The performance condition grant, made June 20, 2023, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024. The shares have not been issued as of the date of this Form 4, but will be issued on or before the 60th day following June 4, 2024.
F6 Stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock, and which vest at the rate of 25% per year, with the initial vesting on June 4, 2025. The options were granted by the Compensation Committee on June 4, 2024, which grant was subject to certification by the Chief Financial Officer that the shareholders had increased the shares reserved under the 2011 Stock Incentive Plan, and that there were no impediments to the grant of the options. The required certification was made on July 15, 2024.
F7 Performance-based stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock. The performance condition stock option grant, made June 16, 2020, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F8 Performance-based stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock. The performance condition stock option grant, made June 22, 2021, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F9 Performance-based Stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock. The performance condition stock option grant, made June 22, 2022, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.
F10 Performance-based stock options granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, upon payment of the exercise price, one share of common stock. The performance condition stock option grant, made June 20, 2023, vested in part on June 4, 2024, upon certification by the Compensation Committee that a defined performance objective as to 85% of the target number of share units for the fiscal year ended June 30, 2024.