SEC Form 4 · accession 0001144204-18-039091
Arch Therapeutics, Inc. · ARTH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Avtar S Dhillon
Director
Period of report
Jul 19, 2018
Accepted (ET)
Jul 20, 2018 · 12:00 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 StockF1,F2 | Jul 19, 2018 | A | 220,000 | $0.00 | A | 8,517,373 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1,F3 | $0.425 | Jul 19, 2018 | A | 220,000 | A | — | Jul 18, 2028 | Common Stock | 200,000 | 220,000 | D |
Explanation of responses
- F1The grants reported on this Statement of Changes in Beneficial Ownership on Form 4 were made in connection with that certain letter agreement dated July 19, 2018 by and between the reporting person and Arch Therapeutics, Inc. (the "Company") pursuant to which the reporting person was engaged as an advisor to the Company. The reporting person resigned from his position as a director of the Company effective as of 4:00 PM Eastern Time, July 19, 2018.
- F2Of the Shares subject to this grant, all are issued pursuant to the 2013 Stock Incentive Plan (the "Plan") and 100% shall fully vest on the second anniversary of the date of grant. In addition, in the event of a Change of Control (as such term is defined in the Plan) 100% of grant will immediately vest.
- F3Of the Shares subject to this Grant, 1/12th shall on each of the next twelve (12) monthly anniversaries of the vesting commencement date.