Mark R. Quinlan - Jun 17, 2024 Form 4 Insider Report for COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)

Role: Director
Signature: /s/ Mark R. Quinlan
Stock symbol: CMTL
Transactions as of: Jun 17, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/18/2024, 04:30 PM
Previous filing: Jan 23, 2024
Next filing: Oct 2, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CMTL	Series B Convertible Preferred Stock	Disposed to Issuer		-29.3K	-100%		0	Jun 17, 2024	Common Stock	3.8M		See footnote	F1, F2, F3, F4, F5, F6, F10
transaction	CMTL	Series B-1 Convertible Preferred Stock	Award		+29.3K			29.3K	Jun 17, 2024	Common Stock	3.8M		See footnote	F5, F6, F7, F8, F9
transaction	CMTL	Series B-1 Convertible Preferred Stock	Award		+1.01K	+3.43%		30.3K	Jun 17, 2024	Common Stock	131K		See footnote	F6, F7, F8, F9, F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Conversion price of $7.99.
F2	Holders of Series B Convertible Preferred Stock had the right to convert their shares of Series B Convertible Preferred Stock at any time. Subject to the terms and conditions set forth in the Certificate of Designations of the Series B Convertible Preferred Stock, the Issuer had the right to designate any business day after July 22, 2027 as a conversion date for all or any portion that is a whole number of the outstanding shares of Series B Convertible Preferred Stock.
F3	The Series B Convertible Preferred Stock had no expiration date.
F4	Includes accumulated dividends through June 16, 2024.
F5	The shares of Series B Convertible Preferred Stock were exchanged for an equal number of shares of Series B-1 Convertible Preferred Stock.
F6	The securities reported herein are held by funds managed by White Hat Capital Partners LP, a Delaware limited partnership (the "WH Investment Manager"). Mr. Mark R. Quinlan (the "Reporting Person") serves as the co-managing member of the general partner of the WH Investment Manager. The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. The Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
F7	Conversion price of $7.99, subject to adjustments as set forth in the Certificate of Designations of the Series B-1 Convertible Preferred Stock (the "Series B-1 CoD").
F8	Holders of Series B-1 Convertible Preferred Stock have the right to convert their shares of Series B-1 Convertible Preferred Stock at any time. Subject to the terms and conditions set forth in the Series B-1 CoD, the Issuer has the right to designate any business day after July 22, 2027 as a conversion date for all or any portion that is a whole number of the outstanding shares of Series B-1 Convertible Preferred Stock.
F9	The Series B-1 Convertible Preferred Stock has no expiration date.
F10	Issued as June Additional Shares as defined and as described in that certain Subscription and Exchange Agreement dated as of June 17, 2024 by and among the Issuer and the investors listed on the signature pages attached thereto, attached as Exhibit 10.2 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 18, 2024.