Director option grant at Skye Bioscience (SKYE) totals 35,000 shares

Rhea-AI Filing Summary

Skye Bioscience director Karen L. Smith reported receiving a stock option award. On 02/06/2026 she was granted an option to buy 35,000 shares of common stock at an exercise price of $0.82 per share. The option vests in equal monthly installments over the one-year period beginning January 19, 2026, and all 35,000 derivative securities are held directly.

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 CA 92130

(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 Bioscience (SKYE) report for Karen L. Smith?

Skye Bioscience reported a stock option grant to director Karen L. Smith. On February 6, 2026, she received an option for 35,000 shares of common stock at a $0.82 exercise price, held directly following the transaction.

How many Skye Bioscience shares are covered by Karen L. Smith’s new option?

The new stock option covers 35,000 shares of Skye Bioscience common stock. These derivative securities give her the right to buy 35,000 shares at a fixed $0.82 exercise price, subject to the vesting schedule disclosed in the filing.

What is the exercise price of Karen L. Smith’s Skye Bioscience stock option?

The exercise price of the stock option is $0.82 per share. This means Karen L. Smith can purchase Skye Bioscience common shares at $0.82 when the option is vested and exercised, according to the vesting terms described in the Form 4.

When does Karen L. Smith’s Skye Bioscience stock option begin vesting?

The stock option begins vesting on January 19, 2026. It vests in equal monthly installments over a one-year period starting that date, gradually making portions of the 35,000-share option exercisable each month through the end of the vesting year.

What is Karen L. Smith’s role at Skye Bioscience in this Form 4 filing?

Karen L. Smith is identified as a director of Skye Bioscience. The Form 4 indicates she is a reporting person in her capacity as a director, not as an officer or 10% owner, and it reports her receipt of a stock option award.

Is Karen L. Smith’s Skye Bioscience stock option held directly or indirectly?

The stock option is reported as held directly by Karen L. Smith. The ownership form in the filing is marked “D” for direct, and no indirect ownership entity or special nature of indirect beneficial ownership is described in the provided disclosure.