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 OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Vardzel Gerald J Jr 		2. Issuer Name and Ticker or Trading Symbol

Precision Therapeutics Inc. [ AIPT ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

91 43RD ST, SUITE 110 		3. Date of Earliest Transaction (MM/DD/YYYY)

4/4/2019
(Street)

PITTSBURGH, PA 15201
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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, $.01 par value   4/4/2019     A    718205   A   (1) 718205   D    
Common Stock, $.01 par value   4/4/2019     J (2)    197506   A   (2) 197506   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 Options (right to buy)   $0.7480   4/4/2019     A      151260         (3) 4/4/2029   Common Stock   151260   $0   151260   D    

Explanation of Responses:
(1)  The reporting person acquired 718,205 shares of issuer common stock in exchange for an 18% interest in Helomics Holding Corporation ("Helomics") pursuant to Helomics merger into the issuer. The shares are valued at $0.7480 per share, the closing price on the date of the closing, 4/4/2019. Of the 718,205 shares issued to the reporting person in the merger, 175,411 are currently being held in escrow and are subject to forfeiture during the escrow period (until 9/30/2020), to satisfy any claims arising as a result of any breach by Helomics of any of its representations and warranties or covenants in the merger agreement.
(2)  Shares released from escrow.
(3)  37,815 shares vest immediately and 37,815 vest on 10/4/2019; the remainder vests quarterly for 18 months.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Vardzel Gerald J Jr
91 43RD ST
SUITE 110
PITTSBURGH, PA 15201 		X



Signatures
/s/ Gerald J. Vardzel Jr. 4/8/2019
** 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 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 control number.
Precision Therapeutics Inc. (NASDAQ:AIPT)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Precision Therapeutics Inc. Charts.
Precision Therapeutics Inc. (NASDAQ:AIPT)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Precision Therapeutics Inc. Charts.