Elan Blutinger - 07 Jun 2024 Form 4 Insider Report for LUXURBAN HOTELS INC. (LUXH)

Role: Director
Signature: /s/ Elan Blutinger
Issuer symbol: LUXH
Transactions as of: 07 Jun 2024
Net transactions value: +$12,232
Form type: 4
Filing time: 11 Jun 2024, 17:24:33 UTC
Previous filing: 24 May 2024
Next filing: 17 Jul 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LUXH	Common Stock	Award	$0	+1,000,000	+139%	$0.000000	1,721,856	07 Jun 2024	Direct	F1
transaction	LUXH	Common Stock	Award	$12,232	+38,684	+2.2%	$0.3162	1,760,540	10 Jun 2024	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents 1,000,000 shares of the Issuer's restricted common stock granted to the Reporting Person pursuant to the Restricted Stock Award Agreement between the Issuer and Reporting Person dated June 7, 2024. This restricted common stock grant shall vest as follows: (a) 75% shall be deemed vested immediately upon effectiveness of the Charter and Plan Amendments (as defined and described in the preliminary information statement on Schedule 14C filed with the SEC on May 29, 2024), and (b) the remaining 25% shall vest on the date the Issuer consummates a third-party financing of equity or debt which, collectively with the underwritten offering of common stock consummated by the Issuer on May 23, 2024 and any subsequent financings, results in the Issuer having raised aggregate gross proceeds from equity and debt financings during 2024 of at least $12 million.
F2	Represents 38,684 shares of the Issuer's restricted common stock issued to the Reporting Person pursuant to the Restricted Stock in Lieu of Salary Agreement, effective as of June 10, 2024. The grant shall not be effective until the Charter Amendment and Plan Amendment (as defined and described in the preliminary information statement on Schedule 14C filed with the SEC on May 29, 2024) is effective under the Exchange Act and the Delaware General Corporation Law.

Content

Represents 1,000,000 shares of the Issuer's restricted common stock granted to the Reporting Person pursuant to the Restricted Stock Award Agreement between the Issuer and Reporting Person dated June 7, 2024. This restricted common stock grant shall vest as follows: (a) 75% shall be deemed vested immediately upon effectiveness of the Charter and Plan Amendments (as defined and described in the preliminary information statement on Schedule 14C filed with the SEC on May 29, 2024), and (b) the remaining 25% shall vest on the date the Issuer consummates a third-party financing of equity or debt which, collectively with the underwritten offering of common stock consummated by the Issuer on May 23, 2024 and any subsequent financings, results in the Issuer having raised aggregate gross proceeds from equity and debt financings during 2024 of at least $12 million.

Represents 38,684 shares of the Issuer's restricted common stock issued to the Reporting Person pursuant to the Restricted Stock in Lieu of Salary Agreement, effective as of June 10, 2024. The grant shall not be effective until the Charter Amendment and Plan Amendment (as defined and described in the preliminary information statement on Schedule 14C filed with the SEC on May 29, 2024) is effective under the Exchange Act and the Delaware General Corporation Law.