Michael J. Sena - 24 Apr 2024 Form 4 Insider Report for INNOVATE Corp. (VATE)

Role: Chief Financial Officer
Signature: /s/ Michael J. Sena
Issuer symbol: VATE
Transactions as of: 24 Apr 2024
Net transactions value: +$80,000
Form type: 4
Filing time: 25 Apr 2024, 17:09:57 UTC
Previous filing: 18 Mar 2024
Next filing: 13 Mar 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VATE	Common Stock	Options Exercise	$80,000	+114,285	+11%	$0.7000	1,171,632	24 Apr 2024	Direct	F1

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	VATE	Subscription Rights (right to buy)	Options Exercise	$0	-399,881	-100%	$0.000000^*	0	24 Apr 2024	Common Stock	114,285	$0.7000	Direct	F2

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

Explanation of Responses:

Id	Content
F1	These shares were directly acquired by the reporting person as a result of the exercise of subscription rights which were issued to the reporting person in the Issuer's rights offering.
F2	Every one (1) subscription right entitles the reporting person to purchase 0.2858 shares of the Issuer's common stock at a subscription price per full share of $0.70.