Skye Bioscience (SKYE) director receives 75,000 stock options at $0.615 strike

Rhea-AI Filing Summary

Skye Bioscience director Karen L. Smith received a grant of stock options covering 75,000 shares of Common Stock. The options have an exercise price of $0.615 per share and expire on March 31, 2036. They vest in equal monthly installments over the one-year period beginning March 31, 2026. Following this grant, she holds 75,000 stock options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Smith Karen L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	75,000	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 75,000 shares (Direct)

Footnotes (1)

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Key Figures

Options granted: 75,000 options Exercise price: $0.615 per share Expiration date: March 31, 2036 +2 more

5 metrics

Options granted 75,000 options Stock Option (Right to Buy) grant to director

Exercise price $0.615 per share Conversion or exercise price for the stock options

Expiration date March 31, 2036 Option term end date for the grant

Underlying shares 75,000 shares Common Stock underlying the stock options

Post-transaction options held 75,000 options Total derivative holdings following the grant

Key Terms

Stock Option (Right to Buy), vests in equal monthly installments, Common Stock, exercise price, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

vests in equal monthly installments financial

"The stock option vests in equal monthly installments over the one year period"

Common Stock financial

"underlying_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.

exercise price financial

"conversion_or_exercise_price: 0.6150"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

expiration date financial

"expiration_date: 2036-03-31T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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

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^*

Smith Karen L.

(Last) (First) (Middle)

11250 EL CAMINO REAL

SUITE 100

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Skye Bioscience, Inc. [ SKYE ]

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)
03/31/2026

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

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
Stock Option (Right to Buy)	$0.615	03/31/2026		A		75,000		(1)	03/31/2036	Common Stock	75,000	$0	75,000	D

Explanation of Responses:

1. The stock option vests in equal monthly installments over the one year period beginning March 31, 2026.

Remarks:

	/s/ Punit S. Dhillon, as Attorney-in-Fact	04/02/2026
	** 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 did Skye Bioscience (SKYE) director Karen L. Smith report on this Form 4?

Karen L. Smith reported receiving a grant of stock options for 75,000 shares of Skye Bioscience Common Stock. These options are compensation, not an open-market purchase or sale, and give her the right to buy shares at a fixed exercise price in the future.

What are the key terms of the 75,000 Skye Bioscience (SKYE) stock options granted?

The grant covers 75,000 stock options with an exercise price of $0.615 per share and an expiration date of March 31, 2036. Each option represents the right to buy one share of Skye Bioscience Common Stock if and when it becomes vested and is exercised.

How do the Skye Bioscience (SKYE) stock options granted to Karen L. Smith vest?

The stock options vest in equal monthly installments over one year, beginning March 31, 2026. This means a portion of the 75,000 options becomes exercisable each month over that year, aligning vesting with continued service during the vesting period.

Did Karen L. Smith buy or sell Skye Bioscience (SKYE) shares on the open market?

No, this Form 4 shows a grant of stock options as compensation, not an open-market trade. The transaction is classified as a grant or award acquisition, giving her the right to purchase shares later rather than reflecting a current market buy or sell.

How many Skye Bioscience (SKYE) options does Karen L. Smith hold after this transaction?

After the grant, Karen L. Smith holds 75,000 stock options directly. These options relate to Skye Bioscience Common Stock, have an exercise price of $0.615 per share, and expire on March 31, 2036, subject to their monthly vesting schedule starting in 2026.