Michael S Abrams Form 3 Arch Therapeutics / MICHAEL S ABRAMS ownership change

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

ABRAMS MICHAEL S

(Last) (First) (Middle)

235 WALNUT STREET, SUITE 6

(Street)

FRAMINGHAM MA 01702

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/10/2021

3. Issuer Name and Ticker or Trading Symbol
Arch Therapeutics, Inc. [ ARTH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CFO and Treasurer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(1)	05/02/2031	Common Stock	500,000	0.1329	D

Explanation of Responses:

1. 33.3% of the shares subject to the option shall vest on the one-year anniversary of the the grant date, and 1/24th of the remaining unvested shares subject to this grant shall vest commencing on each f the next twenty-four (24) monthly anniversaries thereater, subject to the Exectuive's continued service for the Company through each vesting date. In the event of a Change of Control (such as defined in the Plan), then, in any such case, 100% of the number of unvested Shares then subject to the grant shall accelerate and become vested as of the date of such event.

	/s/ Michael S. Abrams	05/10/2021
	** Signature of Reporting Person	Date
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 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.
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