# EDGAR Filing Document

**Accession Number:** 0001851034
**File Stem:** 0001493152-23-003989
**Filing Date:** 2023-2
**Character Count:** 7339
**Document Hash:** c891701ff74bfbf8ac5417f758786e69
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-003989.hdr.sgml**: 20230208

**ACCESSION NUMBER**: 0001493152-23-003989

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230206

**FILED AS OF DATE**: 20230208

**DATE AS OF CHANGE**: 20230208

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Finley John David
- **CENTRAL INDEX KEY:** 0001851034

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33672
- **FILM NUMBER:** 23600812

**MAIL ADDRESS:**
- **STREET 1:** C/O SENECA BIOPHARMA, INC.
- **STREET 2:** 20271 GOLDENROD LANE
- **CITY:** GERMANTOWN
- **STATE:** MD
- **ZIP:** 20876
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PALISADE BIO, INC.
- **CENTRAL INDEX KEY:** 0001357459
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 522007292
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 7750 EL CAMINO REAL, SUITE 5200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92009
- **BUSINESS PHONE:** (858) 704-4900

**MAIL ADDRESS:**
- **STREET 1:** 7750 EL CAMINO REAL, SUITE 5200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Seneca Biopharma, Inc.
- **DATE OF NAME CHANGE:** 20200127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Neuralstem, Inc.
- **DATE OF NAME CHANGE:** 20060324

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Finley John David<br><sub>(Last) (First) (Middle)</sub><br>7750 EL CAMINO REAL, SUITE 5200<br><sub>(Street)</sub><br>CARLSBAD,, CA 92009<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-06 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_CEO, CFO, Director_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>PALISADE BIO, INC. [ PALI ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units<sup>(1)(2)</sup> | <sup>(3)</sup> | 2023-02-06 |  | A |  | 41700<sup>(1)(3)</sup> |  | <sup>(1)(2)</sup> | <sup>(4)</sup> | Common Stock | 41700 | $0.00 | 41700 | D |  |
| Restricted Performance Stock Units<sup>(1)(2)</sup> | <sup>(3)</sup> | 2023-02-06 |  | A |  | 32500<sup>(1)(3)</sup> |  | <sup>(1)(2)</sup> | 2033-02-06 | Common Stock | 32500 | $0.00 | 32500 | D |  |
| Common Stock Purchase Option<sup>(1)(2)</sup> | $2.40 | 2023-02-06 |  | A |  | 57200<sup>(1)(2)</sup> |  | <sup>(1)(2)</sup> | 2033-02-06 | Common Stock | 57200 | $0.00 | 57200 | D |  |

---

### Footnotes:

(1) Each grant represents a one-time bonus grant to Reporting Person for services as an executive officer for the year ended December 31, 2022. The grants were issued from the Issuer's 2021 Equity Incentive Plan. Vesting for each grant is subject to: (a) the Reporting Person being a service provider to the Issuer at the time of vesting and (b) shareholder approval of the applicable grant is received.

(2) The applicable grant will vest: with respect to the Restricted Stock Units ("RSUs") and Common Stock Purchase Options ("Options"), in twelve (12) equal quarterly installments over a three-year period from the grant date, and with respect to the Performance Restricted Stock Units ("PSUs"), (i) 50% at such time when the volume weighted average price of the Company's common stock over a twenty (20) consecutive trading day period is at or greater than $3.20, and (ii) 50% at such time when the volume weighted average price of the Company's common stock over a twenty (20) consecutive trading day period is at or greater than $4.25

(3) Each RSU or PSU represents a contingent right to receive one share of Issuer's common stock.

(4) N/A

**Signature:** /s/ JD Finley  
**Date:** 2023-02-08

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (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.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**