X0306 4 2015-09-01 0 0001583648 PIERIS PHARMACEUTICALS, INC. PIRS 0001089409 DEPTULA-HICKS DARLENE M C/O PIERIS PHARMACEUTICALS, INC. LISE-MEITNER-STRASSE 30 FREISING-WEIHENSTEPHAN 2M 85354 GERMANY 0 1 0 0 Sr. Vice President and CFO Common Stock 2.80 2015-09-01 4 A 0 450000 0.00 A 2025-09-01 Common Stock 450000 450000 D The option vested as to 6.25% of the shares on September 1, 2015 and vests as to the remaining 93.75% of the shares in equal installments on a quarterly basis beginning on December 31, 2015. The option is subject to certain restrictions on exercise until the Company's shareholders have approved an increase in the number of shares of common stock authorized under the Company's 2014 Employee, Director and Consultant Equity Plan (or successor plan) and if such shareholder approval is not obtained on or prior to September 30, 2016, the option will be cancelled and be of no further effect. /s/ Marc D. Mantell 2015-09-03