Processa (PCSA) Amends Form 4 to Disclose 28,000 Restricted Stock Units

Rhea-AI Filing Summary

Russell Skibsted, Chief Financial Officer of Processa Pharmaceuticals, Inc. (PCSA), amended a prior filing to report ownership of 28,000 restricted stock units. The RSUs convert to common stock and are structured to vest 50% on July 16, 2025, with the remaining 50% contingent on achievement of specified performance criteria. The amendment retracts an earlier Form 4 that was filed in error. The reported transaction date is July 24, 2025, and the amended Form 4 was signed by attorney-in-fact on September 18, 2025.

Positive

• CFO ownership disclosed: Russell Skibsted holds 28,000 restricted stock units in Processa Pharmaceuticals (PCSA).
• Vesting aligned with performance: 50% vests on July 16, 2025 and 50% vests upon achievement of specified performance criteria.
• Corrective action taken: An amendment retracts a prior Form 4 filed in error, indicating disclosure accuracy efforts.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider reported 28,000 RSUs with time- and performance-based vesting; amendment corrects an earlier erroneous filing.

This disclosure shows the CFO holding compensation tied to both time (50% vesting on July 16, 2025) and performance (remaining 50% contingent on criteria). Such grants align executive incentives with company performance but do not by themselves change ownership control or signal immediate market-moving transactions. The amendment indicates a corrective administrative action rather than new substantive activity.

Corporate Governance Expert

TL;DR: Routine executive equity award with mixed time and performance vesting; corrected filing reflects governance diligence.

The grant structure—half time-based vesting and half performance-contingent—aligns with common governance practices to motivate sustained performance. The filing amendment to retract a prior Form 4 filed in error suggests the company and reporting person are addressing disclosure accuracy, which is a positive governance signal, although the item itself is not material to valuation or control.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SKIBSTED RUSSELL

(Last) (First) (Middle)

C/O PROCESSA PHARMACEUTICALS, INC.

601 21ST STREET SUITE 300

(Street)

VERO BEACH FL 32960

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Processa Pharmaceuticals, Inc. [ PCSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/28/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0							(1)	(1)	Common Stock	28,000		28,000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, following its vesting of 50% on 7/16/25 and the remainder upon achievement of certain criteria.

Remarks:

Amendment filed to retract the prior Form 4, which was filed in error.

	/s/ Russell Skibsted by John J. Wolfel, as Attorney-in-Fact	09/18/2025
	** 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 4 (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.

FAQ

What did the Form 4/A for PCSA report?

The amended Form 4 reports that CFO Russell Skibsted beneficially owns 28,000 restricted stock units, with vesting terms described in the filing.

When do the reported RSUs vest?

The RSUs vest 50% on July 16, 2025, and the remaining 50% vests upon achievement of specified performance criteria.

Why was this filing amended?

The amendment states it was filed to retract a prior Form 4 that was filed in error.

Who signed the amended Form 4/A?

The document was signed on behalf of Russell Skibsted by an attorney-in-fact, John J. Wolfel, on September 18, 2025.

Does this Form 4/A indicate a sale or transfer of shares?

No. The filing reports restricted stock units (a form of equity compensation) and does not disclose any sale or disposition of shares.