X0306 4 2015-03-31 0 0001335103 Protea Biosciences Group, Inc. PRGB 0001529365 SEGAL SCOTT 1311 PINEVIEW DRIVE, SUITE 501 MORGANTOWN WV 26505 1 0 0 0 Common Stock 2015-03-31 4 J 0 418552 0 A 2375713 D Common Stock 2015-03-31 4 J 0 10464 0 A 2386177 D Common Stock 2015-12-18 4 A 0 80000 0 A 2466177 D Director Stock Option (right to buy) 0.25 2015-12-18 4 A 0 66667 0 A 2016-12-01 2025-12-01 Common Stock 66667 66667 D The Reporting Person held 52,319 shares of the Issuer's Series A Convertible Stock (the "Preferred Shares") with a stated value equal to $2.00 per share (the "Stated Value"). On March 31, 2015, the Preferred Shares automatically converted into shares of the Issuer's common stock (the "Common Stock") determined by dividing the Stated Value by $0.25 per share, resulting in the issuance of 418,552 shares of Common Stock to the Reporting Person. The Preferred Shares were entitled to receive dividends payable in Common Stock at the rate of 6.0% per annum, which were paid on March 31, 2015. The option vests 100% on December 1, 2016. /s/Scott Segal 2016-01-08