Processa Pharmaceuticals (PCSA) director receives 203 shares from vesting

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Processa Pharmaceuticals director Neal James R reported a compensation-related share vesting. On June 26, 2026, he exercised a time-based service award, converting 203 shares of restricted stock into 203 shares of common stock at a stated price of $0.00 per share.

After the transaction, he directly holds 1,021 shares of common stock and 5,249 shares of restricted stock. The filing shows an exercise of a derivative security rather than any open-market purchase or sale of Processa Pharmaceuticals stock.

Insider Trade Summary

203 shares exercised/converted

Mixed 2 txns

Insider Neal James R

Role null

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

Holdings After Transaction: Restricted Stock — 5,249 shares (Direct, null); Common Stock — 1,021 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares exercised: 203 shares Price per share: $0.00 per share Common shares after transaction: 1,021 shares +2 more

5 metrics

Shares exercised 203 shares Restricted stock converted to common on June 26, 2026

Price per share $0.00 per share Stated transaction price for the 203 common shares

Common shares after transaction 1,021 shares Total common stock directly held after exercise

Restricted stock after transaction 5,249 shares Time-based restricted stock balance after vesting event

Exercise transactions 1 transaction, 203 shares Form 4 transactionSummary exerciseCount and exerciseShares

Key Terms

Restricted Stock, derivative security, time-based service award

3 terms

Restricted Stock financial

"The filing reports 203 shares of Restricted Stock as a derivative security."

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

"Transaction code M is described as an exercise or conversion of a 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 states this transaction is a distribution of time-based service award."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 04:48 PM Accepted by SEC EDGAR 06/30/2026 - 04:47 PM

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^*

Neal James R

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/26/2026		M		203	A	⁽¹⁾	1,021	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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/ James Neal 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Processa Pharmaceuticals (PCSA) report for Neal James R?

Processa Pharmaceuticals director Neal James R reported exercising 203 shares of restricted stock into 203 shares of common stock. This was a distribution of a time-based service award, reflecting equity compensation vesting rather than an open-market stock purchase or sale.

How many Processa Pharmaceuticals (PCSA) common shares does Neal James R hold after this Form 4?

Following the reported transaction, Neal James R directly holds 1,021 shares of Processa Pharmaceuticals common stock. This position reflects his holdings after converting 203 restricted shares, as detailed in the Form 4 insider filing for June 26, 2026.

What happened to the restricted stock award for Neal James R at Processa Pharmaceuticals (PCSA)?

A time-based service restricted stock award for Neal James R partially vested, converting 203 restricted shares into common stock. After this vesting, he still holds 5,249 shares of restricted stock as part of his equity-based compensation with Processa Pharmaceuticals.

Was the Processa Pharmaceuticals (PCSA) Form 4 an open-market trade by Neal James R?

No, the Form 4 reflects an exercise of a derivative security linked to a time-based service award, not an open-market trade. The 203 shares of common stock came from restricted stock vesting, with no reported open-market buying or selling activity in this filing.

What type of Form 4 transaction code was used in the Processa (PCSA) filing?

The Form 4 uses transaction code “M,” indicating the exercise or conversion of a derivative security. In this case, it records restricted stock vesting into 203 common shares as part of a time-based service award for director Neal James R at Processa Pharmaceuticals.