Director Andrew J. Schwab receives 35,000 SKYE stock options at $0.82

Rhea-AI Filing Summary

Skye Bioscience director receives stock option grant. Director Andrew J. Schwab was granted a stock option for 35,000 shares of Skye Bioscience, Inc. common stock on February 6, 2026. The option has an exercise price of $0.82 per share and was awarded at no cost to him.

The option vests in equal monthly installments over a one-year period beginning January 19, 2026, and is exercisable until February 6, 2036. Following this grant, Schwab holds 35,000 derivative securities directly in the form of this stock option.

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^*

Schwab Andrew J.

(Last) (First) (Middle)

C/O 5AM VENTURE MANAGEMENT, LLC

4 EMBARCADERO CENTER, SUITE 3110

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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

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)	$0.82	02/06/2026		A		35,000		(1)	02/06/2036	Common Stock	35,000	$0	35,000	D

Explanation of Responses:

1. The stock option vests in equal monthly installments over the one-year period beginning January 19, 2026.

Remarks:

	/s/ Kaitlyn Arsenault, as Attorney-in-Fact	02/09/2026
	** 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.

FAQ

What insider transaction did SKYE director Andrew J. Schwab report on this Form 4?

Andrew J. Schwab reported receiving a stock option grant for 35,000 shares of Skye Bioscience common stock. The award is a derivative security, giving him the right to buy shares at a fixed exercise price over a defined period.

What are the key terms of Andrew J. Schwab’s Skye Bioscience stock option?

The stock option covers 35,000 shares of Skye Bioscience common stock at a $0.82 exercise price. It was granted at no cost to Schwab and is exercisable until February 6, 2036, subject to its vesting schedule beginning in January 2026.

How does the vesting schedule work for Andrew J. Schwab’s SKYE stock option grant?

The stock option vests in equal monthly installments over one year starting January 19, 2026. This means a portion of the 35,000 underlying shares becomes exercisable each month, spreading full vesting across a 12-month period.

Is Andrew J. Schwab’s Form 4 transaction a direct or indirect holding in SKYE?

The Form 4 identifies the 35,000 stock options as directly owned by Andrew J. Schwab. There is no indication of a trust, partnership, or other entity holding the options; the nature of ownership is reported as direct.

Did Andrew J. Schwab pay anything for the Skye Bioscience option grant reported?

The reported transaction shows a price of $0.00 for acquiring the stock option itself. While the option was granted at no cost, Schwab would need to pay the $0.82 per share exercise price to purchase underlying SKYE common shares after vesting.