SEC Form 4 · accession 0001144204-18-038834

Arch Therapeutics, Inc. · ARTH

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Jul 16, 2018

Accepted (ET)

Jul 18, 2018 · 2:33 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001537561

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Jul 16, 2018	M	30,000	$0.37	A	260,000	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (right to buy)^F2	$0.37	Jul 16, 2018	M	30,000	D	—	Jun 18, 2023	Common Stock	30,000	0	D

F1Excludes (i) 922,267 shares owned by the Keyes Sulat Revocable Trust; (ii) 41,666 shares owned by the Brenna Keyes Sulat Irrevocable Trust; and (iii) 41,666 shares owned by the Nathaniel Keyes Sulat Irrevocable Trust. Mr. Sulat and his spouse are the co-trustees of each trust, and the members of Mr. Sulat's family are the beneficiaries.
F233.3% of the shares subject to the option vested on July 1, 2014, and 1/24th of the remaining unvested shares vest monthly thereafter, with all shares underlying the option subject to automatic acceleration of vesting upon a Corporate Transaction or Change in Control (as such terms are defined under the Issuer's 2013 Stock Incentive Plan). To the extent vested, the reporting person must exercise the stock option during the 2018 calendar year, unless the Issuer undergoes a Corporate Transaction or Change in Control which also constitutes a "change in the ownership or effective control, or in the ownership of a substantial portion of the assets" (within the meaning of Code Section 409A) of the Company in a calendar year earlier than 2018, in which case the option must be exercised during such earlier calendar year.