UNITED STATES SECURITIES AND EXCHANGE COMMISSION ----------------------
FORM 4 Washington, D.C. 20549 | OMB APPROVAL |
|---------------------|
| OMB Number: |
{X} Check this box if STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES | 3235-0287 |
no longer subject to | Expires: |
Section 16. Form 4 or | November 30, 2011 |
Form 5 obligations may | Estimated average |
continue. See Instruction | burden hours per |
1(b). | response 0.5 |
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section -----------------------
17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the
(Print or Type Responses) Investment Company Act of 1940
---------------------------------------------------------------------------------------------------------------------------------
|1. Name and Address of | 2. Issuer Name and Ticker or Trading Symbol | 5. Relationship of Reporting Person(s) |
| Reporting Person* | | to Issuer (Check all applicable) |
|Trenschel Robert J. |PALISADE BIO, INC. PALI | __X__ Director _____ 10% Owner |
| | | _____ Officer _____ Other |
|--------------------------|---------------------------------------------------|
|(Last) (First) (Middle)|3. Date of Earliest Transaction (Month/Day/Year) | (give title below) (specify below)|
| | 02-08-2024 | |
|7750 EL CAMINO REAL, SUITE|---------------------------------------------------| |
| 2A, | | |
| (Street) |4.If Amendment, Date Original Filed(Month/Day/Year)|-------------------------------------------------|
| | | 6. Individual or Joint/Group Filing |
|CARLSBAD, - CA - 92009 | | (Check Applicable Line) |
| (City) (State) (Zip) | | _X_ Form filed by One Reporting Person |
| | | ___ Form filed by More than One |
| | | Reporting Person |
---------------------------------------------------------------------------------------------------------------------------------
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
------------------------------------------------------------------------------------------------------------------------
| 1. | 2. | 2a. | 3. | 4. | 5. | 6. | 7. |
| Title of | Trans- | Deemed | Transaction | Securities Acquired | Amount of Sec | Ownership | Nature of |
| Security | action | Execut. | Code | (A) or Disposed of (D) | Beneficially | Form: | Indirect |
| (Instr. 3) | Date | Date | (Instr. 8) | (Instr. 3, 4 and 5) |Owned Following| Direct | Beneficial |
| |----------|----------|---------|----|----------|-----|--------| Transaction(s)| (D) or | Ownership |
| | (Month/ | (Month/ | | | | (A) | | | Indirect | (Instr. 4) |
| | Day/ | Day/ | | | | or | | (Instr. 3 and | (I) | |
| | Year) | Year) | Code | V | Amount | (D) | Price | 4) | Instr. 4) | |
---------------------------------------------------------------------------------|-----------------------------------------------
|Common Stock, par|02-08-2024| |M | |5,100 |A |$0 |5,100 |D | |
| value $0.01 | | | | | | | | | | |
|#1 | | | | | | |#1 | | | |
|--------------------------------------------------------------------------------|-----------------------------------------------|
|Common Stock, par|02-08-2024| |M | |5,820 |A |$0 |10,920 |D | |
| value $0.01 | | | | | | | | | | |
|#1 | | | | | | |#2 | | | |
|--------------------------------------------------------------------------------|-----------------------------------------------|
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
----------------------------------------------------------------------------------------------------------------------------------
|1. |2. | 3. | 3a. |4. | 5. | 6. | 7. |8. |9. |10. |11. |
|Title of|Conver- | Trans- | Deemed |Trans- | Number of | Date | Title and |Price |Number |Owner- |Nature of|
|Deriv- |sion or | action | Execu. |action | Deriv- | Exercisable | Amount of |of |of |ship |Indirect |
|ative |Exercise| Date | Date |Code | ative | and Expira- | Underlying |Deriv- |Deriv- |Form |Benefici.|
|Security|Price of| (Month/ | (Month/ |(Instr.| Securities | tion Date | Securities |ative |ative |of |Ownership|
|(Instr. |Deriv- | Day/ | Day/ |8) | Acquired | (Month/Day/ | (Instr. 3 |Secur- |Secur- |Deriv- |(Instr. 4|
| 3) |ative | Year) | Year) | | (A) or | Year) | and 4) |ity |ities |ative | |
| |Security| | | | Disposed of |----------------|--------------|(Instr.|Bene- |Secur- | |
| | | | |-------| (D) (Instr. | | | | | 5) |ficially|ity | |
| | | | | | | 3, 4 and 5) | | | |Amount | |Owned |Direct | |
| | | | | | |--------------| | | |or | |folowing|(D) or | |
| | | | | | | | |Date |Expira- | |Number | |reported|Indirect| |
| | | | | | | | |Exer- |tion | |of | |tran.(s)|(I) | |
| | | | |Code| V| (A) | (D) |cisable|Date |Title |Shares | |(Inst.4)|Instr. 4| |
----------------------------------------------------------------------------------------------------------------------------------
|Restrict| |02-08-202| |M | | |5,100 | | |Common|5,100 |$0 |0 |D | |
|ed Stock| |4 | | | | | | | | Stock| | | | | |
| Units | | | | | | | | | | | | | | | |
|#3 |#3 | | | | | | |#5 |#5 | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
|Restrict| |02-08-202| |M | | |5,820 | | |Common|5,820 |$0 |0 |D | |
|ed Stock| |4 | | | | | | | | Stock| | | | | |
| Units | | | | | | | | | | | | | | | |
|#4 |#4 | | | | | | |#5 |#5 | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
|Common S|$1.6 |02-08-202| |M | | |12,160 |06-11-2|06-11-20|Common|12,160 |$0 |0 |D | |
|tock Opt| |4 | | | | | |023 |33 | Stock| | | | | |
|ions | | | | | | | | | | | | | | | |
|#6 #7 | | | | | | | | | | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
|Common S|$1.6 |02-08-202| |M | |12,160| |06-11-2|06-11-20|Common|12,160 |$0 |12,160 |D | |
|tock Opt| |4 | | | | | |023 |33 | Stock| | | | | |
|ions | | | | | | | | | | | | | | | |
|#6 #7 | | | | | | | | | | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
|Common S|$0.59 |02-08-202| |M | | |6,880 |11-21-2|11-21-20|Common|6,880 |$0 |0 |D | |
|tock Opt| |4 | | | | | |023 |33 | Stock| | | | | |
|ions | | | | | | | | | | | | | | | |
|#6 #8 | | | | | | | | | | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
|Common S|$0.59 |02-08-202| |M | |6,880 | |11-21-2|11-21-20|Common|6,880 |$0 |6,880 |D | |
|tock Opt| |4 | | | | | |023 |33 | Stock| | | | | |
|ions | | | | | | | | | | | | | | | |
|#6 #8 | | | | | | | | | | | | | | | |
|--------------------------------------------------------------------------------------------------------------------------------|
+----------------------------------------------------------------------------------+
| | Relationships |
| Reporting Owner Name / Address +----------+----------+----------+-------- -+
| | Director |10% Owner | Officer | Other |
+--------------------------------------+----------+----------+----------+----------+
|Trenschel Robert J. | X | . | | |
|7750 EL CAMINO REAL, SUITE 2A | | | | |
|CARLSBAD, CA 92009 | | | | |
|--------------------------------------+----------+----------+----------+----------|
Explanation of Responses:
1 Represents the issuance of common stock upon the vesting and settlement of outstand
ing restricted stock units granted on June 11, 2023, resulting from the full accelera
ted vesting in connection with Reporting Person's resignation from the Issuer's Board
of Directors.
2 Represents the issuance of common stock upon the vesting and settlement of outstand
ing restricted stock units granted on November 21, 2023, resulting from the full acce
lerated vesting in connection with Reporting Person's resignation from the Issuer's B
oard of Directors.
3 This restricted stock unit was granted on June 11, 2023 and pursuant to the issuanc
e upon full vesting as described in Footnote 1, is no longer outstanding.
4 This restricted stock unit was granted on November 21, 2023 and pursuant to the iss
uance upon full vesting described in Footnote 2, is no longer outstanding.
5 Each restricted stock unit represents the right to receive one share of common stoc
k.
6 Each option represents the right to purchase one share of common stock at the exerc
ise price.
7 Represents the modification of the option granted on June 11, 2023, resulting in (i
) immediate vesting in full of the outstanding grant and (ii) extension of the exerci
se period until the expiration date in connection with Reporting Person's resignation
from the Issuer's Board of Directors.
8 Represents the modification of the option granted on November 21, 2023, resulting i
n (i) immediate vesting in full of the outstanding grant and (ii) extension of the ex
ercise period until the expiration date in connection with Reporting Person's resigna
tion from the Issuer's Board of Directors.
Remarks:
Signatures
/s/ Robert Trenschel / 02-13-2024
------------------------------------------------------------- -----------
** Signature of Reporting Person Date
* If the form is filed by more than one reporting person, seeInstruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.