Form 4 for SKYE Skye Bioscience, Inc.

Accepted 2023-08-29 00:00:00 ET · period of report 2023-08-25 · accession 0001516551-23-000064 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2023-08-29	2023-08-25	SKYE	ARSENAULT KAITLYN	CFO	A - Grant	$0.00	+13.38M	14.38M	+1,338%	$0
D	2023-08-29	2023-08-25	SKYE	ARSENAULT KAITLYN	CFO	A - Grant	$0.00	+3.35M	3.35M	New	$0

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2023-08-25	A	A	13,382,118	$0.00	14,382,118	D	—	—	(F1) Represents a restricted stock unit ("RSU") award that vests on the following performance milestones : 25% vests upon achieving a market cap of $125M, an additional 25% vests upon achieving a market cap of $250M, an additional 25% vests upon achieving a market cap of $400M, an additional 25% vest at an exit of $500M or greater; provided, however, that no RSUs shall vest until the compensation committee of the Issuer determines that shares can be sold into the market to cover withholding tax obligations associated with the vesting of the RSUs . Notwithstanding anything to the foregoing, all of the RSUS shall vest if an exit greater than $500M is achieved at an earlier date. (F2) Each RSU represents a contingent right to receive one share of the Issuer's common stock.
2	Derivative	Stock Option (Right to Buy)	2023-08-25	A	A	3,345,530	$0.00	3,345,530	D	$0.01 · — to 2033-08-25	3,345,530 Common Stock	(F3) The option grant shall be exercisable for a price of $0.014 per option share for ten years from August 25, 2023 and the options will vest in equal monthly installments over the four year period beginning August 24, 2023. Upon a change in control of the Issuer, 100% of the options will become fully vested.