Adam Stedham - Dec 26, 2023 Form 4 Insider Report for VerifyMe, Inc. (VRME)

Role
Chief Executive Officer, Director
Signature
/s/ Nancy Meyers, Attorney-in-Fact for Adam Stedham
Stock symbol
VRME
Transactions as of
Dec 26, 2023
Transactions value $
$15,019
Form type
4
Date filed
12/28/2023, 04:32 PM
Previous filing
Dec 26, 2023
Next filing
Jun 21, 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 Purchase $15K +14.4K +9.29% $1.04 170K Dec 26, 2023 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
holding VRME 8% Convertible Promissory Note due 2026 $175K Dec 26, 2023 Common Stock, par value $0.001 per share 152K $1.15 Direct
holding VRME Restricted Stock Units 204K Dec 26, 2023 Common Stock, par value $0.001 per share 204K $0.00 Direct F2
holding VRME Restricted Stock Units 550K Dec 26, 2023 Common Stock, par value $0.001 per share 550K $0.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 28,592 vested restricted stock units that become payable, on a one-for-one basis, in shares of common stock of VerifyMe, Inc. upon separation of the Reporting Person's service as a director.
F2 These restricted stock units, which convert into common stock on a one-for-one basis, vest in three equal annual installments on each of 6/19/2024, 6/19/2025 and 6/19/2026, except as otherwise provided in the award notice.
F3 These restricted stock units, which convert into common stock on a one-for-one basis, vest in three tranches, except as otherwise provided in the award notice. Tranche 1 will vest 150,000 shares of common stock on or after the first anniversary of the grant date if the price of the Issuer's common stock is $2.21 per share and trades at or above that price for 20 consecutive days. Tranche 2 will vest 200,000 shares of common stock on or after the second anniversary of the grant date if the Issuer's common stock trades at or above $2.94 per share for 20 consecutive trading days. Tranche 3 will vest 200,000 shares of common stock on the fourth anniversary of the grant date if the Issuer's common stock trades at or above $3.68 per share for 20 consecutive trading days.