PALISADE BIO, INC. — Director's Dealing 2021

Apr 29, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PALISADE BIO, INC. (PALI)
CIK: 0001357459
Period of Report: 2021-04-27

Reporting Person: Trenschel Robert J. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-27	Common Stock	A	304479	—	Acquired	304479	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-27	Stock Option (Right to Buy)	$41.20	A	10182	Acquired	2029-04-25	Common Stock (10182)	Direct
2021-04-27	Stock Option (Right to Buy)	$41.20	A	1298	Acquired	2029-06-19	Common Stock (1298)	Direct
2021-04-27	Stock Option (Right to Buy)	$26.85	A	4406	Acquired	2030-07-10	Common Stock (4406)	Direct
2021-04-27	Warrant (right to buy)	$41.20	A	40785	Acquired	2029-03-08	Common Stock (40785)	Indirect
2021-04-27	Warrant (right to buy)	$41.20	A	13595	Acquired	2029-08-15	Common Stock (13595)	Indirect
2021-04-27	Warrant (right to buy)	$26.85	A	1223	Acquired	2030-10-15	Common Stock (1223)	Indirect

Footnotes

F1: Received in exchange for 11,198,208 shares of common stock of Leading BioSciences, Inc. ("LBS"), pursuant to the Agreement and Plan of Merger, dated December 16, 2020, among Seneca Biopharma Inc., Townsgate Acquisition Sub 1, Inc. and LBS (the "Merger"). Per the terms of the Merger, each share of LBS's common stock was converted into the right to receive 0.02719 shares of Seneca's common stock. In the Merger, the name of the Issuer was changed from Seneca Biopharma, Inc. to Palisade Bio, Inc.

F2: The Reporting Person is the President and Chief Executive Officer of Yuma Regional Medical Center and shares voting and investment power over the securities held by Yuma Regional Medical Center.

F3: The stock option vested according to the following schedule: 25% of the shares underlying the option vested on the grant date and the remaining 75% vested in three equal quarterly installments thereafter beginning on June 30, 2019.

F4: Received in the Merger in exchange for a stock option to acquire 374,500 shares of LBS common stock for $1.12 per share.

F5: The stock option is fully vested.

F6: Received in the Merger in exchange for a stock option to acquire 47,758 shares of LBS common stock for $1.12 per share.

F7: The stock option vests according to the following schedule: 25% of the shares underlying the option vests on the grant date and the remaining 75% vests in three equal quarterly installments thereafter beginning on September 30, 2020.

F8: Received in the Merger in exchange for a stock option to acquire 162,069 shares of LBS common stock for $0.73 per share.

F9: Received in the Merger in exchange for a warrant to purchase 1,500,000 shares of LBS common stock for $1.12 per share.

F10: Received in the Merger in exchange for a warrant to purchase 500,000 shares of LBS common stock for $1.12 per share.

F11: Received in the Merger in exchange for a warrant to purchase 45,000 shares of LBS common stock for $0.73 per share.