Patrick Joseph White - 16 Feb 2022 Form 4 Insider Report for VerifyMe, Inc. (VRME)

Role
Chief Executive Officer, Director
Signature
/s/ Patrick White
Issuer symbol
VRME
Transactions as of
16 Feb 2022
Net transactions value
$0
Form type
4
Filing time
18 Feb 2022, 15:16:40 UTC
Previous filing
10 Aug 2021
Next filing
30 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding VRME Common Stock, par value $0.001 68,937 16 Feb 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 +61,250 $0.000000 61,250 16 Feb 2022 Common Stock, par value $0.001 61,250 $0.000000 Direct F1, F2
holding VRME Stock Option (Right to Buy) 10,000 16 Feb 2022 Common Stock, par value $0.001 10,000 $7.00 Direct F3
holding VRME Stock Option (Right to Buy) 140,000 16 Feb 2022 Common Stock, par value $0.001 140,000 $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.