0001516551-23-000095.txt : 20231106 0001516551-23-000095.hdr.sgml : 20231106 20231106202948 ACCESSION NUMBER: 0001516551-23-000095 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231106 FILED AS OF DATE: 20231106 DATE AS OF CHANGE: 20231106 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: DHILLON PUNIT CENTRAL INDEX KEY: 0001425052 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55136 FILM NUMBER: 231381269 MAIL ADDRESS: STREET 1: 5820 NANCY RIDGE DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92121 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Skye Bioscience, Inc. CENTRAL INDEX KEY: 0001516551 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 450692882 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 11250 EL CAMINO REAL, SUITE 100 CITY: SAN DIEGO STATE: CA ZIP: 92130 BUSINESS PHONE: (858) 410-0266 MAIL ADDRESS: STREET 1: 11250 EL CAMINO REAL, SUITE 100 CITY: SAN DIEGO STATE: CA ZIP: 92130 FORMER COMPANY: FORMER CONFORMED NAME: Emerald Bioscience, Inc. DATE OF NAME CHANGE: 20190325 FORMER COMPANY: FORMER CONFORMED NAME: Nemus Bioscience, Inc. DATE OF NAME CHANGE: 20141030 FORMER COMPANY: FORMER CONFORMED NAME: LOAD GUARD LOGISTICS, INC. DATE OF NAME CHANGE: 20121107 4 1 wk-form4_1699320579.xml FORM 4 X0508 4 2023-11-06 0 0001516551 Skye Bioscience, Inc. SKYE 0001425052 DHILLON PUNIT 11250 EL CAMINO REAL, SUITE 100 C/O SKYE BIOSCIENCE, INC. SAN DIEGO CA 92130 1 1 0 0 Chief Executive Officer 0 Common Stock 2023-11-06 4 A 0 194270 0 A 297006 D Stock Option (Right to Buy) 3.50 2023-11-06 4 A 0 21586 0 A 2033-08-25 Common Stock 21586 30599 D 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. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The option grant shall be exercisable for a price of $3.50 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. /s/ Kaitlyn Arsenault, as Attorney-in-Fact 2023-11-06