Hermann Luebbert - Jul 12, 2024 Form 4 Insider Report for Biofrontera Inc. (BFRI)

Role
CEO & Chairman, Director
Signature
/s/ Daniel Hakansson, Attorney-in-fact for Hermann Luebbert
Stock symbol
BFRI
Transactions as of
Jul 12, 2024
Transactions value $
$0
Form type
4
Date filed
7/16/2024, 07:52 PM
Previous filing
May 22, 2024

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 BFRI Restricted Stock Units Award $0 +275K $0.00 275K Jul 12, 2024 Common Stock 275K Direct F1, F2
transaction BFRI Employee stock option (right to buy) Award $0 +275K +1807.9% $0.00 290K Jul 12, 2024 Common Stock 275K $1.38 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of BFRI common stock. The reporting person received the restricted stock units as an award for no consideration.
F2 The restricted stock units vest over one year in two equal installments, the first of which will be on the six month anniversary of the grant date and the second of which will be on the one-year anniversary of the grant date. Each vested restricted stock unit will be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the vesting date.
F3 The option vests in three virtually equal annual installments beginning on July 12, 2025.

Remarks:

All share amounts have been adjusted for the reverse stock split that occurred on June 28, 2023.