SEC Form 4 · accession 0001144204-15-044350
PALISADE BIO, INC. · PALI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Garr
Officer — CEO · Director
Period of report
Jul 24, 2015
Accepted (ET)
Jul 27, 2015 · 4:09 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 24, 2015 | M | 800,000 | $0.50 | A | 1,883,337 | D | |
| Common StockF1 | Jul 24, 2015 | F | 380,263 | $1.93 | D | 1,503,074 | 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 24, 2015 | M | 800,000 | D | Jul 28, 2005 | Jul 27, 2015 | Common Stock | 800,000 | 0 | D |
Explanation of responses
- F1Represents 173,009 shares forfeited for tax witholding purposes and 207,254 shares withheld by the Issuer at the market price of $1.93 per share less an exercise price of $0.50 per share to fund the cashless exercise of 800,000 options. The total number of shares issued to Reporting Person pursuant to the cashless exercise of the options is 419,737.
- F2Represents option issued on July 28, 2005. The option was exercised on a cashless basis on 7/24/2015.