GRI Bio, Inc. — Director's Dealing 2021

May 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Vallon Pharmaceuticals, Inc. (VLON)
CIK: 0001824293
Period of Report: 2021-05-14

Reporting Person: Ammer Richard (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-14	Stock Option (Right to Buy)	$3.66	A	15000	Acquired	2031-05-14	Common Stock (15000)	Direct
2021-05-14	Stock Option (Right to Buy)	$3.66	A	10204	Acquired	2031-05-14	Common Stock (10204)	Direct

Footnotes

F1: The stock option vests in 24 equal monthly installments such that the stock option is fully vested on the second annual anniversary of the date of grant.

F2: The stock option vests as to 50% of the underlying shares of common stock on June 30, 2021, then in two equal installments on September 30, 2021 and December 31, 2021, such that the stock option fully vests on December 31, 2021.