Processa (NASDAQ: PCSA) CDO reports 249 RSUs vest, holds 1,871 shares

Rhea-AI Filing Summary

Processa Pharmaceuticals Chief Development Officer Sian Bigora reported an equity award vesting and related share distribution. On January 1, 2026, 249 restricted stock units converted into 249 shares of common stock at an exercise price of $0, described as a distribution of vested restricted shares.

Following this transaction, Bigora beneficially owns 1,604 shares of Processa common stock directly and an additional 267 shares indirectly through CorLyst, LLC. The filing reflects compensation-related share delivery rather than an open‑market purchase or sale.

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

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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).

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^*

Bigora Sian

(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 Development Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2026

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
Common Stock	01/01/2026		M		249	A	$0(1)	1,604	D
Common Stock								267	I	By CorLyst, LLC

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	01/01/2026		M			249	(1)	(1)	Common Stock	249	$0	0	D

Explanation of Responses:

1. Distribution of vested restricted shares.

	/s/ Sian Bigora by John J. Wolfel, as Attorney-in-Fact	02/04/2026
	** 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.
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FAQ

What insider transaction did Processa Pharmaceuticals (PCSA) report for Sian Bigora?

Processa Pharmaceuticals reported that Chief Development Officer Sian Bigora had 249 restricted stock units vest and convert into 249 shares of common stock on January 1, 2026. The filing characterizes this as a distribution of vested restricted shares.

How many Processa Pharmaceuticals (PCSA) shares does Sian Bigora own after this Form 4?

After the reported transaction, Sian Bigora beneficially owns 1,604 shares of Processa common stock directly. The filing also shows an additional 267 shares held indirectly through CorLyst, LLC, reflecting both direct and indirect ownership positions.

Was the Processa Pharmaceuticals (PCSA) Form 4 transaction a sale of shares?

The Form 4 does not report an open‑market sale. Instead, it shows 249 restricted stock units converting into 249 common shares at an exercise price of $0, described as a distribution of vested restricted shares, which is a compensation-related event.

What does transaction code “M” mean in the Processa Pharmaceuticals (PCSA) Form 4?

In this filing, transaction code “M” indicates the exercise or conversion of derivative securities. Specifically, 249 restricted stock units converted into 249 common shares for Sian Bigora, reflecting the vesting and distribution of equity compensation rather than a market trade.

Who is the insider involved in this Processa Pharmaceuticals (PCSA) Form 4 filing?

The insider is Sian Bigora, who serves as Chief Development Officer of Processa Pharmaceuticals. The Form 4 records the vesting and conversion of 249 restricted stock units into common stock and updates Bigora’s direct and indirect share ownership in the company.

What indirect ownership is disclosed in the Processa Pharmaceuticals (PCSA) Form 4?

The Form 4 lists 267 shares of Processa common stock held indirectly “By CorLyst, LLC”. This is shown separately from Sian Bigora’s 1,604 directly held shares, providing detail on both direct and indirect beneficial ownership relationships.