Suzi R. Herbst - Mar 15, 2023 Form 4 Insider Report for INNOVATE Corp. (VATE)

Role: Chief Operating Officer
Signature: /s/ Suzi R. Herbst
Stock symbol: VATE
Transactions as of: Mar 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/31/2023, 04:25 PM
Previous filing: Mar 16, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VATE	Common Stock	Award	$0	+85.3K	+44.69%	$0.00	276K	Mar 15, 2023	Direct	F1
holding	VATE	Common Stock						9.28K	Mar 15, 2023	Trusts FBO Children	F2

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

Explanation of Responses:

Id	Content
F1	Reflects shares of restricted stock granted pursuant to the INNOVATE Corp. (f/k/a HC2 Holdings, Inc.) 2014 Omnibus Equity Award Plan (the "Plan"). Shares will vest and become exercisable in three installments of one-third each on the first, second and third anniversaries of the Date of Grant (each a "Vesting Date"), subject to the continued employment of the Reporting Person on the applicable Vesting Date.
F2	The shares of common stock reported herein are held in two trusts, each trust for the benefit of one of the Reporting Person's children. The Reporting Person's spouse serves as trustee for each trust. The Reporting Person disclaims beneficial ownership of all securities held by such trusts except to the extent of her pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Content

Reflects shares of restricted stock granted pursuant to the INNOVATE Corp. (f/k/a HC2 Holdings, Inc.) 2014 Omnibus Equity Award Plan (the "Plan"). Shares will vest and become exercisable in three installments of one-third each on the first, second and third anniversaries of the Date of Grant (each a "Vesting Date"), subject to the continued employment of the Reporting Person on the applicable Vesting Date.

The shares of common stock reported herein are held in two trusts, each trust for the benefit of one of the Reporting Person's children. The Reporting Person's spouse serves as trustee for each trust. The Reporting Person disclaims beneficial ownership of all securities held by such trusts except to the extent of her pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.