Processa director exercises 203-share equity award

Processa Pharmaceuticals director Justin W. Yorke reported a routine equity compensation event.

Rhea-AI Filing Summary

Processa Pharmaceuticals director Justin W. Yorke reported a routine equity compensation event. On June 26, 2026, he exercised a time-based service restricted stock award, converting 203 restricted shares into 203 shares of common stock at $0.00 per share.

After the transaction, Yorke holds 353 common shares directly, plus 496 common shares held indirectly through a directed trust IRA and 1,250 common shares held indirectly via Richland Fund, LLC. He also continues to hold 5,249 restricted stock units directly.

Insights

Equity compensation and governance analyst

Yorke’s Form 4 shows routine equity award vesting, not open-market trading.

The filing shows Justin W. Yorke, a director of Processa Pharmaceuticals, exercising a time-based restricted stock award, converting 203 restricted shares into common stock at $0.00 per share. This is standard equity compensation, not a cash purchase or sale in the market.

The transaction increases his directly held common stock to 353 shares, while he also has indirect holdings of 496 shares via a directed trust IRA and 1,250 shares via Richland Fund, LLC. He continues to hold 5,249 restricted stock units, indicating ongoing equity exposure. With no sales or open-market buys, this looks like a routine vesting event rather than a signal-driven trade.

Insider Trade Summary

203 shares exercised/converted

Exercise 4 txns

Insider Yorke Justin W

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock	203	$0.00	$0.00
Exercise	Common Stock	203	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock — 5,249 contracts (Direct); Common Stock — 353 shares (Direct); Common Stock — 1,250 shares (Indirect, By Richland Fund, LLC); Common Stock — 496 shares (Indirect, By Directed Trust Company FBO Justin Yorke IRA)

Footnotes (1)

1. F1. Distribution of time-based service award.

Key Figures

Restricted shares converted: 203 shares Exercise price: $0.00 per share Direct common shares after: 353 shares +3 more

6 metrics

Restricted shares converted 203 shares Time-based service award converted to common stock on June 26, 2026

Exercise price $0.00 per share Conversion of restricted stock into common stock

Direct common shares after 353 shares Direct holdings following award vesting

Indirect IRA holding 496 shares Common stock held via directed trust IRA

Indirect Richland Fund holding 1,250 shares Common stock held via Richland Fund, LLC

Restricted stock units remaining 5,249 units Direct restricted stock balance after 203-unit conversion

Key Terms

Restricted Stock, time-based service award, derivative security, Directed Trust Company FBO Justin Yorke IRA, +1 more

5 terms

Restricted Stock financial

"Restricted Stock, transaction code M, transaction_type derivative"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

time-based service award financial

"Distribution of time-based service award."

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Directed Trust Company FBO Justin Yorke IRA financial

"nature_of_ownership: By Directed Trust Company FBO Justin Yorke IRA"

Richland Fund, LLC financial

"nature_of_ownership: By Richland Fund, LLC"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Processa Pharmaceuticals (PCSA) director Justin W. Yorke report on this Form 4?

Justin W. Yorke reported the vesting of a time-based restricted stock award, converting 203 restricted shares into 203 common shares at $0.00 per share. This reflects routine equity compensation rather than an open-market stock purchase or sale.

Did Justin W. Yorke buy or sell PCSA shares on the open market?

He did not report any open-market buys or sells. The Form 4 shows an equity award vesting, where 203 restricted stock units converted into common shares at $0.00, classified as an exercise or conversion of a derivative security, not a market trade.

How many Processa Pharmaceuticals shares does Justin W. Yorke hold after this transaction?

After the transaction, he holds 353 common shares directly, 496 common shares indirectly through a directed trust IRA, and 1,250 common shares indirectly via Richland Fund, LLC. He also continues to hold 5,249 restricted stock units directly as part of his compensation.

What does the time-based service award mean in Justin W. Yorke’s PCSA filing?

The time-based service award refers to restricted stock that vests over time as service conditions are met. In this case, 203 restricted shares vested and converted into common stock, with no cash paid, reflecting standard director or executive equity compensation practices.

Are there any remaining restricted stock units for Justin W. Yorke at Processa Pharmaceuticals?

Yes. Following the conversion of 203 restricted shares into common stock, Justin W. Yorke still holds 5,249 restricted stock units directly. These units typically vest over time, providing additional potential future equity if service-based conditions continue to be satisfied.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/30/2026 - 04:49 PM EDT Learn about SEC filing dates

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Yorke Justin W

(Last) (First) (Middle)

C/O PROCESSA PHARMACEUTICALS, INC.

601 21ST STREET SUITE 300

(Street)

VERO BEACH FLORIDA 32960

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

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

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

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
Common Stock	06/26/2026		M		203	A	(1)	353	D
Common Stock								1,250	I	By Richland Fund, LLC
Common Stock								496	I	By Directed Trust Company FBO Justin Yorke IRA

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	06/26/2026		M			203	(1)	(1)	Common Stock	203	$0	5,249	D

Explanation of Responses:

1. Distribution of time-based service award.

	/s/ Justin W. Yorke by John J. Wolfel, as Attorney-in-Fact	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)