patrick white - Feb 16, 2022 Form 4 Insider Report for VerifyMe, Inc. (VRME)

Role
Chief Executive Officer, Director
Signature
/s/ Patrick White
Stock symbol
VRME
Transactions as of
Feb 16, 2022
Transactions value $
$0
Form type
4
Date filed
2/18/2022, 03:16 PM
Previous filing
Aug 10, 2021
Next filing
Mar 30, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding VRME Common Stock, par value $0.001 68.9K Feb 16, 2022 Direct

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 VRME Restricted Stock Units Award $0 +61.3K $0.00 61.3K Feb 16, 2022 Common Stock, par value $0.001 61.3K $0.00 Direct F1, F2
holding VRME Stock Option (Right to Buy) 10K Feb 16, 2022 Common Stock, par value $0.001 10K $7.00 Direct F3
holding VRME Stock Option (Right to Buy) 140K Feb 16, 2022 Common Stock, par value $0.001 140K $3.50 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on 2/16/2024 in two equal tranches. Tranch 1 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $5.00 for 20 consecutive trading days, Tranch 1 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days.
F2 (Continued from footnote 1) Tranch 2 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $7.00 for 20 consecutive trading days, Tranch 2 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.
F3 This option is fully exercisable as of the date of this report.