Jason N. Welch - 17 Sep 2024 Form 4 Insider Report for KonaTel, Inc. (KTEL)

Role: Consultant in same capacity
Signature: /s/ Jason Welch
Issuer symbol: KTEL
Transactions as of: 17 Sep 2024
Net transactions value: $0
Form type: 4
Filing time: 24 Mar 2025, 15:50:56 UTC
Previous filing: 26 Sep 2023
SEC: View on sec.gov

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

Type	Sym	Class	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	KTEL	Option	250,000	17 Sep 2024	Common Stock	250,000	$0.3700	Direct	F1, F2
holding	KTEL	Option	500,000	17 Sep 2024	Common Stock	250,000	$0.3700	Direct	F1, F2
holding	KTEL	Option	750,000	17 Sep 2024	Common Stock	250,000	$0.3700	Direct	F1, F2

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

Jason N. Welch is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	On September 17, 2024, the Company's Board of Directors adopted resolutions to reprice the 750,000 ISO's from an exercise price of $0.809 to the closing price of $0.37 at September 16, 2024, with all other terms and conditions of the originally granted ISO's to remain the same.
F2	Mr. Welch's Incentive Stock Option Agreement states that his options post employment would have expired 90 days from the reduction of force date, or November 15, 2024. Mr. Welch went from serving as an officer at the Company's subsidiary, IM Telecom, LLC to a consultant. The Board of Directors resolved to extend the "Expiration Date" an additional 180 days or until August 12, 2025. Mr. Welch is currently consulting in the same capacity as his previous officer position, pending growth initiatives to materialize.

Content

On September 17, 2024, the Company's Board of Directors adopted resolutions to reprice the 750,000 ISO's from an exercise price of $0.809 to the closing price of $0.37 at September 16, 2024, with all other terms and conditions of the originally granted ISO's to remain the same.

Mr. Welch's Incentive Stock Option Agreement states that his options post employment would have expired 90 days from the reduction of force date, or November 15, 2024. Mr. Welch went from serving as an officer at the Company's subsidiary, IM Telecom, LLC to a consultant. The Board of Directors resolved to extend the "Expiration Date" an additional 180 days or until August 12, 2025. Mr. Welch is currently consulting in the same capacity as his previous officer position, pending growth initiatives to materialize.