SKYE · Skye Bioscience, Inc.

Skye Bioscience executed a broad option repricing program affecting 2,420,978 shares, reducing exercise prices from a range of $1.055 to $14.56 down to $0.615, the closing price on the repricing date. This action primarily benefits CEO Punit Dhillon and COO Tuan Diep, who collectively hold approximately 62% of the repriced options. The Board justified the repricing as a retention and motivation tool that avoids the dilution associated with new grants. Concurrently, the company appointed John P. Sharp as CFO. Mr. Sharp, a seasoned finance executive with over 30 years of experience including roles at Ligand Pharmaceuticals and PhaseBio Pharmaceuticals, will serve as principal financial and accounting officer. His engagement is structured through a Master Services Agreement with Lohman & Associates, stipulating a flat monthly fee of $25,600 for up to 64 hours of service, offering the company flexible access to senior financial expertise.