[Form 4] Processa Pharmaceuticals, Inc. Common Insider Trading Activity

Rhea-AI Filing Summary

Golden Matrix Group, Inc. (GMGI) – Form 144 filing

Anthony Brian Goodman has filed notice to sell 50,000 common shares through Oppenheimer & Co. on or after 28 Jul 2025. At the reference price disclosed, the sale represents an aggregate market value of $80,965 and equals roughly 0.036 % of the 138.39 million shares outstanding, indicating de-minimis dilution because the shares are already issued.

The filer previously sold 200,000 shares over the prior three months (four blocks of 50,000 on 30 Jun, 7 Jul, 14 Jul and 21 Jul 2025) for combined gross proceeds of ≈$341,235. The shares being sold were originally acquired on 16 Sep 2021 as compensation from the issuer; no cash consideration was paid at acquisition.

The filer certifies no knowledge of undisclosed material adverse information and makes the required 10b5-1 representation. No additional financial data or corporate guidance is included in this notice.

Positive

• Sale size is immaterial at ~0.036 % of shares outstanding, posing no dilution or liquidity strain.
• 10b5-1 representation affirms filer’s claim of no undisclosed adverse information, reducing legal risk.

Negative

• Continued insider selling: 250,000 shares sold or slated within two months could pressure share price.
• No offsetting insider purchases or corporate news provided, so market may interpret activity as reduced confidence.

Insights

Securities Analyst

TL;DR: Small-scale but persistent insider sales; signal slightly negative sentiment, limited float impact.

Insider Anthony Brian Goodman is extending a pattern of 50k-share blocks, totaling 250k shares sold or planned since 30 Jun 2025. While each block is <0.04 % of shares outstanding and thus non-dilutive, cumulative selling may weigh on sentiment, particularly given the absence of offsetting insider buys. The use of Oppenheimer suggests an open-market transaction at prevailing prices. Lack of accompanying business updates means investors must interpret this purely as insider behavior rather than fundamentals. Overall impact: modestly negative to neutral.

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
Estimated average burden
hours per response:			0.5

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^*

Neal James R

(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)

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

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

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

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	$0	07/24/2025		A		175,299(1)		(2)	(2)	Common Stock	175,299	$0	206,505	D

Explanation of Responses:

1. Restricted stock granted under the Processa Pharmaceuticals, Inc. 2019 Omnibus Incentive Plan ("Omnibus Plan"), of which 125,999 shares are subject to stockholder approval of the revised Omnibus Plan.

2. The restricted stock vest on the earlier of June 30, 2026 or the next annual meeting of stockholders, subject to certain distribution requirements.

	/s/ James Neal by Neda Sharifi, as Attorney-in-Fact	07/28/2025
	** 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

How many GMGI shares is the insider planning to sell?

The Form 144 discloses a planned sale of 50,000 common shares.

What is the market value of the proposed GMGI sale?

The shares are valued at $80,965 based on the filing’s reference price.

How significant is the sale relative to GMGI’s share count?

It represents about 0.036 % of the 138.39 million shares outstanding, a very small fraction.

Has the insider recently sold other GMGI shares?

Yes. The same filer sold 200,000 shares in four transactions between 30 Jun and 21 Jul 2025.

When were the shares originally acquired?

The shares were acquired on 16 Sep 2021 as compensation from the issuer.

Is the transaction under a Rule 10b5-1 plan?

The form includes a 10b5-1 representation, indicating reliance on such a trading plan.