Zachary Rome - Mar 4, 2022 Form 4 Insider Report for Timber Pharmaceuticals, Inc. (TMBR)

Role: Director
Signature: /s/ Joseph Lucchese, Power of Attorney
Stock symbol: TMBR
Transactions as of: Mar 4, 2022
Transactions value $: -$4,703
Form type: 4
Date filed: 4/15/2022, 04:10 PM
Previous filing: Sep 16, 2021
Next filing: Oct 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TMBR	Common Stock, par value $0.001 per share	Options Exercise	$793	+79.3K		$0.01^*	79.3K	Mar 4, 2022	Direct
transaction	TMBR	Common Stock, par value $0.001 per share	Tax liability	-$5.5K	-19.6K	-24.75%	$0.28^*	59.7K	Mar 4, 2022	Direct	F1

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
transaction	TMBR	Value Appreciation Rights	Disposed to Issuer	$0	-52.9K	-40%	$0.00	79.3K	Mar 4, 2022	Common Stock, par value $0.001 per share	52.9K	$0.01	Direct	F2
transaction	TMBR	Value Appreciation Rights	Options Exercise	$0	+79.3K		$0.00^*	0	Mar 4, 2022	Common Stock, par value $0.001 per share	79.3K	$0.01	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares of common stock, par value $0.001 per share (the "Common Stock") of Timber Pharmaceuticals, Inc. (the "Issuer") withheld by the Issuer to satisfy tax withholding obligations on the exercise of value appreciation rights ("VARs").
F2	The VARs were to vest in five equal annual installments commencing on March 1, 2019, so long as the Reporting Person remained employed by the Issuer or its affiliates. The Reporting Person stepped down from his positions as the Chief Operating Officer and Executive Vice President of the Issuer effective March 4, 2022. As a result, the VARs were exercisable as of March 4, 2022.