Processa (NASDAQ: PCSA) CDO adds 1,986 shares in open-market buy

Rhea-AI Filing Summary

Processa Pharmaceuticals Chief Development Officer buys shares on the open market. Reporting person Sian Bigora acquired 1,986 shares of Processa Pharmaceuticals common stock in an open-market purchase at $2.69 per share, bringing direct holdings to 7,496 shares. The filing also shows 267 shares of common stock held indirectly through CorLyst, LLC.

Insights

Insider trading analyst

Routine-sized open-market insider purchase with modest direct holdings.

Sian Bigora, Chief Development Officer of Processa Pharmaceuticals, reported an open-market purchase of 1,986 common shares at $2.69 per share. After the trade, direct ownership stands at 7,496 shares, plus 267 shares held indirectly via CorLyst, LLC.

This transaction is classified as a purchase in open market or private transaction, which is typically viewed as a discretionary decision rather than automatic compensation. However, the absolute size appears relatively small, so its standalone signaling value for investors is limited.

The filing shows no derivative positions in the derivative summary, suggesting no options or similar instruments are reported here. Future company filings may provide additional context on how this direct equity position evolves over subsequent reporting periods.

Insider Trade Summary

Net Buyer: 1,986 shares ($5,342)

Net Buy 2 txns

Insider Bigora Sian

Role Chief Development Officer

Bought 1,986 shs ($5K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,986	$2.69	$5K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 7,496 shares (Direct, null); Common Stock — 267 shares (Indirect, By CorLyst, LLC)

Footnotes (1)

Key Figures

Shares purchased: 1,986 shares Purchase price: $2.69 per share Direct holdings after transaction: 7,496 shares +1 more

4 metrics

Shares purchased 1,986 shares Open-market purchase of common stock

Purchase price $2.69 per share Price for 1,986 common shares

Direct holdings after transaction 7,496 shares Common stock directly owned after purchase

Indirect holdings 267 shares Common stock held indirectly by CorLyst, LLC

Key Terms

open-market purchase, indirect ownership, Common Stock, Form 4

4 terms

open-market purchase financial

"transaction_action":"open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

indirect ownership financial

""direct_or_indirect":"I","nature_of_ownership":"By CorLyst, LLC""

Common Stock financial

""security_title":"Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

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

X

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 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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	04/30/2026		P		1,986	A	$2.69	7,496	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

Explanation of Responses:

	/s/ Sian Bigora by John J. Wolfel, as Attorney-in-Fact	05/01/2026
	** 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)

FAQ

What insider transaction did PCSA executive Sian Bigora report?

Sian Bigora reported an open-market purchase of 1,986 shares of Processa Pharmaceuticals common stock at $2.69 per share. This increased direct holdings to 7,496 shares, as disclosed in the Form 4 insider trading report for common stock.

What is Sian Bigora’s total direct ownership of PCSA shares after the trade?

After the reported transaction, Sian Bigora directly owns 7,496 shares of Processa Pharmaceuticals common stock. This figure reflects the addition of 1,986 shares purchased at $2.69 per share in the disclosed open-market transaction.

At what price did the PCSA insider buy shares in this Form 4 filing?

The insider purchase was executed at an average price of $2.69 per share for Processa Pharmaceuticals common stock. The transaction covered 1,986 shares, classified as an open-market or private purchase under transaction code P.

Does Sian Bigora have any indirect ownership in Processa Pharmaceuticals (PCSA)?

Yes. The filing lists 267 shares of Processa Pharmaceuticals common stock held indirectly through CorLyst, LLC. This entry is recorded as indirect ownership, separate from the 7,496 shares held directly by Sian Bigora.

Were any Processa Pharmaceuticals shares sold in this Form 4 filing?

No sales were reported in this Form 4. The transaction summary shows a single open-market purchase of 1,986 shares and no sale transactions, resulting in a net-buy direction for the disclosed insider activity.