Michael Abrams - May 10, 2021 Form 3 Insider Report for Arch Therapeutics, Inc. (ARTH)

Role: CFO and Treasurer
Signature: /s/ Michael S. Abrams
Stock symbol: ARTH
Transactions as of: May 10, 2021
Transactions value $: $0
Form type: 3
Date filed: 5/10/2021, 08:02 AM
Next filing: Oct 1, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	ARTH	Stock Option (Right to Buy)							May 10, 2021	Common Stock	500K	$0.13	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	33.3% of the shares subject to the option shall vest on the one-year anniversary of the the grant date, and 1/24th of the remaining unvested shares subject to this grant shall vest commencing on each f the next twenty-four (24) monthly anniversaries thereater, subject to the Exectuive's continued service for the Company through each vesting date. In the event of a Change of Control (such as defined in the Plan), then, in any such case, 100% of the number of unvested Shares then subject to the grant shall accelerate and become vested as of the date of such event.

Content

33.3% of the shares subject to the option shall vest on the one-year anniversary of the the grant date, and 1/24th of the remaining unvested shares subject to this grant shall vest commencing on each f the next twenty-four (24) monthly anniversaries thereater, subject to the Exectuive's continued service for the Company through each vesting date. In the event of a Change of Control (such as defined in the Plan), then, in any such case, 100% of the number of unvested Shares then subject to the grant shall accelerate and become vested as of the date of such event.