SEC Form 4 · accession 0001144204-15-044127
PALISADE BIO, INC. · PALI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Karl Johe
Officer — Chief Scientific Officer · Director
Period of report
Jul 22, 2015
Accepted (ET)
Jul 24, 2015 · 4:16 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001357459
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 22, 2015 | M | 1,200,000 | $0.50 | A | 1,688,947 | D | |
| Common StockF1 | Jul 22, 2015 | F | 621,016 | $1.64 | D | 1,067,931 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock purchase optionF2 | $0.50 | Jul 22, 2015 | M | 1,200,000 | D | Jul 28, 2005 | Jul 28, 2015 | Common Stock | 1,200,000 | 0 | D |
Explanation of responses
- F1Represents 272,179 shares forfeited for tax witholding purposes and 348,837 shares withheld by the Issuer at the market price of $1.72 per share less an exercise price of $0.50 per share to fund the cashless exercise of 1,200,000 options. The total number of shares issued to Reporting Person pursuant to the cashless exercise of the options is 578,984.
- F2Represents option issued on July 28, 2005. The option was exercised on a cashless basis on 7/22/2015.