New insider Twitty Christopher claimed ownership of 81,242 shares (SEC Form 3)
$SKYE
Biotechnology: Pharmaceutical Preparations
Health Care
| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 04/23/2025 |
3. Issuer Name and Ticker or Trading Symbol
Skye Bioscience, Inc. [ SKYE ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 81,242(1) | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Stock Option (Right to Buy) | (2) | 09/29/2033 | Common Stock | 17,004 | $3.5 | D | |
| Stock Option (Right to Buy) | (3) | 02/28/2034 | Common Stock | 75,000 | $14.56 | D | |
| Stock Option (Right to Buy) | (4) | 08/25/2033 | Common Stock | 7,100 | $3.5 | D | |
| Stock Option (Right to Buy) | (5) | 10/28/2034 | Common Stock | 200,000 | $5.15 | D | |
| Stock Option (Right to Buy) | (6) | 02/24/2035 | Common Stock | 150,000 | $2.89 | D | |
| Stock Option (Right to Buy) | (7) | 01/05/2033 | Common Stock | 12,000 | $4.25 | D | |
| Explanation of Responses: |
| 1. Includes (a) 14,060 restricted stock unit ("RSU") awards that vests upon the company achieving a market capitalization of $500 million or more and (b) 25,000 RSUs that vest upon the achievement of the following performance milestones: (i) 25% vests upon the company achieving a market capitalization of $750 million and a stock price of $20.00 per share, (ii) an additional 25% vests upon the company achieving a market capitalization of $1 billion and a stock price of $25.00 per share, (iii) an additional 25% vests upon the company achieving a market capitalization of $1.25 billion and a stock price of $30.00 per share and (iv) an additional 25% vests if the company achieves a market capitalization of $1.5 billion or greater and a stock price of $35.00 per share. |
| 2. The stock option vests in equal monthly installments over the four year period beginning on August 24, 2023. |
| 3. The stock option vests in equal monthly installments over the four year period beginning February 29, 2024. |
| 4. The stock option vests in equal monthly installments over the four year period beginning August 24, 2023. |
| 5. The stock option vests in equal monthly installments over the four year period beginning October 28, 2024. |
| 6. The stock option vests in equal monthly installments over the one year period beginning February 21, 2025. |
| 7. The stock option vests 25% on December 8, 2023 and 1/48th monthly thereafter. |
| Remarks: |
| Exhibit List: Exhibit 24 - Power of Attorney |
| /s/ Kaitlyn Arsenault, as Attorney-in-Fact | 04/25/2025 | |
| ** 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 5 (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. | ||