PTN executive Form 4 shows tax-share withholding and 32,583 shares held

Rhea-AI Filing Summary

Palatin Technologies executive Stephen T. Wills, Executive VP and CFO/COO, reported routine share-withholding transactions related to tax obligations. On November 14, 2025, the issuer withheld small amounts of common stock (33, 22, 79 and 95 shares) to cover employee withholding taxes tied to previously vested equity awards. The per-share values used were $8 for three grants and $5.5 for one grant, as determined on the respective vesting dates in June 2025. Following these transactions, Wills directly beneficially owned 32,583 shares of Palatin Technologies common stock. The filing is indicated as a Form 4 for one reporting person and reflects tax-related administrative activity rather than an open-market trade.

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^*

WILLS STEPHEN T

(Last) (First) (Middle)

PALATIN TECHNOLOGIES, INC.

11 DEER PARK DRIVE, SUITE 204

(Street)

MONMOUTH JUNCTION NJ 08852

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PALATIN TECHNOLOGIES INC [ PTN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP and CFO/COO

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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	11/14/2025		F		33(1)	D	$8(1)	32,779	D
Common Stock	11/14/2025		F		22(2)	D	$8(2)	32,757	D
Common Stock	11/14/2025		F		79(3)	D	$8(3)	32,678	D
Common Stock	11/14/2025		F		95(4)	D	$5.5(4)	32,583	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

Explanation of Responses:

1. Shares withheld by the issuer, on election of the Reporting Person with the consent of the issuer, to pay employee withholding taxes. Such taxes were withheld and reported for the payroll in the period ended November 14, 2025, with the per share value determined as of June 20, 2025, the date of vesting, for a grant of 121 shares less the 33 shares withheld.

2. Shares withheld by the issuer, on election of the Reporting Person with the consent of the issuer, to pay employee withholding taxes. Such taxes were withheld and reported for the payroll in the period ended November 14, 2025, with the per share value determined as of June 22, 2025, the date of vesting, for a grant of 79 shares less the 22 shares withheld.

3. Shares withheld by the issuer, on election of the Reporting Person with the consent of the issuer, to pay employee withholding taxes. Such taxes were withheld and reported for the payroll in the period ended November 14, 2025, with the per share value determined as of June 22, 2025, the date of vesting, for a grant of 287 shares less the 79 shares withheld.

4. Shares withheld by the issuer, on election of the Reporting Person with the consent of the issuer, to pay employee withholding taxes. Such taxes were withheld and reported for the payroll in the period ended November 14, 2025, with the per share value determined as of June 4, 20245, the date of vesting, for a grant of 345 shares less the 95 shares withheld.

	/s/ Stephen T. Wills by Stephen A. Slusher, Attorney-in-Fact	11/18/2025
	** 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.

FAQ

What did the Palatin Technologies (PTN) Form 4 report for Stephen T. Wills?

The Form 4 reports that Executive VP and CFO/COO Stephen T. Wills had shares of Palatin Technologies common stock withheld by the issuer on November 14, 2025 to pay employee withholding taxes related to vested equity awards.

How many Palatin Technologies shares does the executive beneficially own after these transactions?

After the reported tax-withholding transactions, Executive VP and CFO/COO Stephen T. Wills beneficially owns 32,583 shares of Palatin Technologies common stock directly.

What do the share amounts 33, 22, 79 and 95 represent in the PTN Form 4?

The amounts 33, 22, 79 and 95 shares represent Palatin Technologies common shares withheld by the issuer, with the executive’s election and the issuer’s consent, to pay employee withholding taxes on several vested share grants.

What prices were used to value the Palatin shares withheld for taxes?

The shares withheld for taxes were valued at $8 per share for three grants and $5.5 per share for one grant, based on the per share value determined on the respective vesting dates in June 2025.

Were these Palatin Technologies transactions open-market purchases or sales?

No. The Form 4 explains that the shares were withheld by the issuer to pay employee withholding taxes on vested equity awards, rather than being bought or sold in open-market transactions.

What do the footnotes in the Palatin Technologies Form 4 explain?

Transaction code "F" indicates that the reported transactions involve the payment of tax liability by delivering or withholding securities, in this case shares of Palatin Technologies common stock withheld to satisfy employee withholding taxes.