Processa director exercises 203 restricted shares

Processa Pharmaceuticals director Baluch Khoso reported a small equity compensation event.

Rhea-AI Filing Summary

Processa Pharmaceuticals director Baluch Khoso reported a small equity compensation event. On June 26, 2026, Khoso exercised a time-based service award, converting 203 shares of Restricted Stock into 203 shares of Common Stock at an exercise price of $0.00 per share.

After the transaction, Khoso directly held 2,528 shares of Common Stock and 5,249 shares of Restricted Stock, reflecting a routine distribution of equity granted for service rather than an open-market purchase or sale.

Insider Trade Summary

203 shares exercised/converted

Exercise 2 txns

Insider Baluch Khoso

Role Director

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

Holdings After Transaction: Restricted Stock — 5,249 contracts (Direct); Common Stock — 2,528 shares (Direct)

Footnotes (1)

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

Key Figures

Shares exercised: 203 shares Exercise price: $0.00 per share Common shares after: 2,528 shares +2 more

5 metrics

Shares exercised 203 shares Restricted Stock distributed into Common Stock on June 26, 2026

Exercise price $0.00 per share Conversion of Restricted Stock into Common Stock

Common shares after 2,528 shares Common Stock directly held by Khoso following transaction

Restricted Stock after 5,249 shares Restricted Stock directly held by Khoso following transaction

Derivative exercises 1 transaction, 203 shares Summary of derivative security exercise events in this Form 4

Key Terms

Restricted Stock, derivative security, time-based service award

3 terms

Restricted Stock financial

"The filing reports 203 shares of Restricted Stock converting into Common Stock."

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.

derivative security financial

"The transaction code description notes an 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.

time-based service award financial

"A footnote describes the event as a distribution of time-based service award."

FAQ

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

What insider transaction did Processa Pharmaceuticals (PCSA) disclose for Baluch Khoso?

Processa Pharmaceuticals reported that director Baluch Khoso exercised a time-based service award, converting 203 shares of Restricted Stock into 203 shares of Common Stock at $0.00 per share. This reflects equity compensation vesting, not an open-market stock purchase or sale.

How many Processa Pharmaceuticals (PCSA) shares did Baluch Khoso acquire or exercise?

Baluch Khoso exercised rights over 203 shares tied to a Restricted Stock award, receiving 203 shares of Common Stock. The transaction was coded as a derivative security exercise rather than a market trade, consistent with routine vesting of equity compensation for board service.

What are Baluch Khoso’s holdings in Processa Pharmaceuticals (PCSA) after this Form 4?

Following the reported transactions, Baluch Khoso directly held 2,528 shares of Common Stock and 5,249 shares of Restricted Stock. These figures show a relatively modest ownership position, with the filing mainly documenting ongoing equity-based compensation rather than sizable trading activity.

Was the Processa Pharmaceuticals (PCSA) Form 4 a market buy or sell by Baluch Khoso?

The Form 4 did not report any open-market buys or sells. Instead, it showed a derivative security exercise: a time-based service Restricted Stock award distributing 203 Common Stock shares at $0.00, a standard equity compensation vesting event for a director of the company.

What does “Distribution of time-based service award” mean in the PCSA Form 4 footnote?

The footnote indicates the transaction relates to vesting or distribution of a time-based Restricted Stock award for service. Rather than a discretionary trade, it reflects scheduled equity compensation converting into 203 Common shares at no cost as part of Khoso’s director compensation package.

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

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Accepted by SEC EDGAR 06/30/2026 - 04:46 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^*

Baluch Khoso

(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)	2,528	D

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/ Khoso Baluch 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)