Fred Volk III - Nov 2, 2023 Form 4 Insider Report for VerifyMe, Inc. (VRME)

Role
VP-Ops, PeriShip Global LLC
Signature
/s/ Nancy Meyers, Attorney-in-Fact for Fred Volk III
Stock symbol
VRME
Transactions as of
Nov 2, 2023
Transactions value $
-$3,696
Form type
4
Date filed
11/3/2023, 04:30 PM
Previous filing
Sep 11, 2023
Next filing
Jul 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRME Common Stock, par value $0.001 per share Options Exercise $0 +13.3K +41.16% $0.00 45.7K Nov 2, 2023 Direct F1
transaction VRME Common Stock, par value $0.001 per share Tax liability -$3.7K -3.36K -7.35% $1.10 42.4K Nov 2, 2023 Direct F2

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 Options Exercise $0 -13.3K -33.33% $0.00 26.7K Nov 2, 2023 Common Stock, par value $0.001 per share 13.3K $0.00 Direct F1, F3
holding VRME Restricted Stock Units 62.7K Nov 2, 2023 Common Stock, par value $0.001 per share 62.7K $0.00 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These restricted stock units convert into common stock on a one-for-one basis.
F2 Shares withheld to cover tax withholding obligations upon the vesting of restricted stock units.
F3 One-third of the original grant of these restricted stock units vested on 11/2/2023, and except as otherwise provided in the award notice, the balance vests in substantially equal installments on 11/2/2024 and 11/2/2025.
F4 These restricted stock units vest in two equal tranches, except as otherwise provided in the award notice. Tranch 1 will vest on 4/22/2024 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 4/22/2025 if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. Tranch 2 will vest on 4/22/2024 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 4/22/2025 if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.