Finley John David converted options into 7,068 shares and covered exercise/tax liability with 2,033 shares, increasing direct ownership by 60% to 13,472 units (SEC Form 4)
$PALI
Biotechnology: Biological Products (No Diagnostic Substances)
Health Care
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
PALISADE BIO, INC. [ PALI ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/28/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock, par value $0.01(1) | 05/28/2024 | M | 1,622(1) | A | $0.00(1) | 10,059 | D | |||
| Common Stock, par value $0.01(2) | 05/28/2024 | F | 467(2) | D | $4.76 | 9,592 | D | |||
| Common Stock, par value $0.01(3) | 05/28/2024 | M | 3,335(3) | A | $0.00(3) | 12,927 | D | |||
| Common Stock, par value $0.01(4) | 05/28/2024 | F | 959(4) | D | $4.76 | 11,968 | D | |||
| Common Stock, par value $0.01(5) | 05/28/2024 | M | 2,111(5) | A | $0.00(5) | 14,079 | D | |||
| Common Stock, par value $0.01(6) | 05/28/2024 | F | 607(6) | D | $4.76 | 13,472 | D | |||
| Common Stock, par value $0.01 | 51 | I | By FCW Investments, LLC(7) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units(9) | (9) | 05/28/2024 | M | 1,622 | (8) | (8) | Common Stock | 1,622 | (9) | 0 | D | ||||
| Restricted Stock Units(10) | (10) | 05/28/2024 | M | 3,335 | (8) | (8) | Common Stock | 3,335 | (10) | 0 | D | ||||
| Restricted Stock Units(11) | (11) | 05/28/2024 | M | 2,111 | (8) | (8) | Common Stock | 2,111 | (11) | 0 | D | ||||
| Explanation of Responses: |
| 1. Represents the issuance of common stock upon the vesting and settlement of outstanding restricted stock units for the restricted stock units granted on June 8, 2023. |
| 2. Represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the restricted stock units referenced in footnote 1. |
| 3. Represents the issuance of common stock upon the vesting and settlement of outstanding restricted stock units for the restricted stock units granted on June 11, 2023. |
| 4. Represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the restricted stock units referenced in footnote 3. |
| 5. Represents the issuance of common stock upon the vesting and settlement of outstanding restricted stock units for the restricted stock units granted on November 21, 2023. |
| 6. Represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the restricted stock units referenced in footnote 5. |
| 7. Reporting Person is the managing member of FCW Investments LLC and has the sole investment and voting power over the securities held by this entity. |
| 8. Each restricted stock unit represents the right to receive, at settlement, one share of common stock. |
| 9. This restricted stock unit was granted on June 8, 2023, and all remaining 1,622 restricted stock units subject to the award were accelerated and vested on May 28, 2024 by the Compensation Committee of the Issuer. |
| 10. This restricted stock unit was granted on June 11, 2023, and all remaining 3,335 restricted stock units subject to the award were accelerated and vested on May 28, 2024 by the Compensation Committee of the Issuer. |
| 11. This restricted stock unit was granted on November 21, 2023, and all remaining 2,111 restricted stock units subject to the award were accelerated and vested on May 28, 2024 by the Compensation Committee of the Issuer. |
| /s/ JD Finley | 05/30/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||