Sec Form 4 Filing - EMALFARB MARK A @ DYADIC INTERNATIONAL INC - 2021-12-21

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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 Investment Company Act of 1940
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1. Name and Address of Reporting Person
EMALFARB MARK A
2. Issuer Name and Ticker or Trading Symbol
DYADIC INTERNATIONAL INC [ DYAI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
(Last) (First) (Middle)
C/O DYADIC INTERNATIONAL, INC., 140 INTRACOASTAL POINTE DRIVE SUITE 404
3. Date of Earliest Transaction (MM/DD/YY)
12/21/2021
(Street)
JUPITER, FL33477-5094
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/21/2021 S 26,486( 1 ) D $ 4.33( 2 ) 4,308,431 I Through Mark A. Emalfarb Trust U/A DTD 10/1/1987
Common Stock 12/22/2021 S 35,649( 1 ) D $ 4.12( 2 ) 4,272,782 I ThroughMarkAEmalfarbTrustU/A/DTD10/1/1987
Common Stock 12/23/2021 S 28,767( 1 ) D $ 4.1( 2 ) 4,244,015 I ThroughMarkA.EmalfarbTrustU/A/DTD10/1/1987
Common Stock 12/23/2021 M 150,000 A $ 1.63 4,394,015 I ThroughMarkAEmalfarbTrustU/A/DTD10/1/1987
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 1.63 12/23/2021 M 150,000( 3 ) 01/03/2017 01/03/2022 Common Stock 150,000 $ 0 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
EMALFARB MARK A
C/O DYADIC INTERNATIONAL, INC.
140 INTRACOASTAL POINTE DRIVE SUITE 404
JUPITER, FL33477-5094
X X President and CEO
Signatures
/s/ Mark A. Emalfarb 12/23/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These shares were sold to satisfy exercise price and tax withholding obligations to be funded for options expiring on January 3, 2022. As a result of the option exercises and sale transactions reported on this Form 4, the reporting person's net share ownership increased by 59,098 shares, from 4,334,917 to 4,394,015 shares of Common Stock.
( 2 )The price reported in Column 4 is a weighted average price. These sold in multiple transactions at prices ranging from $4.46 to $4.28, inclusive, on December 21, 2021, $4.70 to $4.00, inclusive, on December 22, 2021, and $4.15 to $4.05, inclusive, on December 23, 2021. The reporting person undertakes to provide to Dyadic International, Inc., any security holder of Dyadic International, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding number of shares sold at each individual price within the price ranges set forth in this footnote(2) to this Form 4.
( 3 )Exercise of reporting person's stock options that would other wise expire January 3, 2022.

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).

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