SOLESENCE, INC. — Director's Dealing 2022

Nov 22, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES Corp (NANX)
CIK: 0000883107
Period of Report: 2022-11-18

Reporting Person: JANKOWSKI JESS (Director, President, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-18	Common Stock	M	10000	$0.415	Acquired	69000	Direct
2022-11-18	Common Stock	S	10000	$1.40	Disposed	59000	Direct
2022-11-21	Common Stock	M	2600	$0.415	Acquired	61600	Direct
2022-11-21	Common Stock	S	2600	$1.38	Disposed	59000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-11-18	Common Stock (right to purchase)	$0.415	M	10000	Disposed	2023-02-14	Common Stock (44226)	Direct
2022-11-21	Common Stock (right to purchase)	$0.415	M	2600	Disposed	2023-02-14	Common Stock (34226)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Indirect
Common Stock	59000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to purchase)	$0.52	2024-02-13	Common Stock (90000)	90000	Direct
Common Stock (right to purchase)	$0.44	2025-02-18	Common Stock (81000)	81000	Direct
Common Stock (right to purchase)	$0.42	2026-02-23	Common Stock (69000)	69000	Direct
Common Stock (right to purchase)	$0.68	2027-02-21	Common Stock (81000)	81000	Direct
Common Stock (right to purchase)	$0.82	2028-05-23	Common Stock (90000)	90000	Direct
Common Stock (right to purchase)	$0.51	2029-05-22	Common Stock (16500)	16500	Direct
Common Stock (right to purchase)	$0.45	2027-06-18	Common Stock (90000)	90000	Direct
Common Stock (right to purchase)	$4.17	2028-12-28	Common Stock (90000)	90000	Direct

Footnotes

F1: These stock options are set to expire on 02/14/2023. Mr. Jankowski established a 10b5-1 Plan with an independent broker with a goal of having his broker sell shares from this grant, under fixed guidleines, in a regular and measured manner designed to avoid both forfeiture of shares due to expiration, and impacting the stock price due to excessive trading volume. His Plan was approved in advance by the Compensation & Governance Committee of the Nanophase Board of Directors.

F2: If not sold through a 10b5-1 Plan, Nanophase trading blackout periods run from the 25th of the last day of any given quarter until 3 days after earnings are released. In example, for options expiring during the 1st quarter of any given year, trading would be prohibited from December 25th of the prior year, through the release of annual earnings plus 3 business days. Typically, this would reopen trading in early-to-mid March, through March 24th. The next blackout period would begin on March 25th, etc.

F3: The price reported is a weighted average price. These shares were sold through multiple transactions, eleven in all, at prices ranging from $1.37 to $1.45.

F4: The price reported is a weighted average price. These shares were sold through multiple transactions, five in all, at prices ranging from $1.36 to $1.40.

F5: These stock options are set to expire on 02/14/2023. Mr. Jankowski converted and sold these shares through a 10b5-1 Plan that has been established with an independent broker. His goal is to have this broker sell shares from this grant, under fixed guidleines, in a regular and measured manner designed to avoid both forfeiture of shares due to expiration, and impacting the stock price due to excessive trading volume. His Plan was approved in advance by the Compensation & Governance Committee of the Nanophase Board of Directors.

F6: Subject to certain restrictions, beginning on this date, options vest in three equal installments.

F7: Subject to certain restrictions, beginning on this date, the options vest in three equal annual installments.

F8: Subject to certain restrictions, beginning on this date, options vest in three equal annual installments.