X0206 3 2016-09-20 0 0001467154 Novan, Inc. NONE 0001430423 PETERSON RICHARD D C/O NOVAN, INC. 4222 EMPEROR BOULEVARD, SUITE 200 DURHAM NC 27703 0 1 0 0 CFO Employee Stock Option 12.25 2025-09-27 Common Stock 75000 D Employee Stock Option 15.20 2026-02-28 Common Stock 25000 D The option vest in 36 equal monthly installments on the first day of each month following September 28, 2015. The option vest in 36 equal monthly installments on the first day of each month following February 29, 2016. /s/ Richard Peterson 2016-09-20