Corey M. Horowitz - Mar 11, 2022 Form 4 Insider Report for NETWORK-1 TECHNOLOGIES, INC. (NTIP)

Role
CEO and Chairman, Director, 10%+ Owner
Signature
/s/ Corey M. Horowitz
Stock symbol
NTIP
Transactions as of
Mar 11, 2022
Transactions value $
-$114,958
Form type
4
Date filed
3/15/2022, 04:14 PM
Next filing
Mar 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NTIP Common Stock, $.01 par value per share Options Exercise $0 +125K +3.45% $0.00 3.75M Mar 11, 2022 Direct F3
transaction NTIP Common Stock, $.01 par value per share Tax liability -$115K -45.4K -1.21% $2.53 3.7M Mar 11, 2022 Direct F2
holding NTIP Common Stock, $.01 par value per share 2.16M Mar 11, 2022 By CMH Capital Management Corp. F4
holding NTIP Common Stock, $.01 par value per share 67.5K Mar 11, 2022 By spouse F4
holding NTIP Common Stock, $.01 par value per share 452K Mar 11, 2022 By trust / custodian F4
holding NTIP Common Stock, $.01 par value per share 2.29K Mar 11, 2022 By Horowitz Partners F4
holding NTIP Common Stock, $.01 par value per share 134K Mar 11, 2022 By CMH Capital Management Corp. Profit Sharing Plan F4

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 NTIP Restricted Stock Units Options Exercise $0 -125K -50% $0.00 125K Mar 11, 2022 Common Stock 125K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of common stock.
F2 45,438 shares of common stock were delivered by Mr. Horowitz to satisfy withholding taxes resulting in net shares issued to Mr. Horowitz of 79,562.
F3 125,000 restricted stock units settled on March 11, 2022 in accordance with an agreement with the Issuer, such restricted stock units vested on July 14, 2021 in accordance with Mr. Horowitz's employment agreement, dated July 14, 2016, with the Issuer.
F4 Includes shares of common stock owned indirectly by Mr. Horowitz, as follows: (i) 2,157,097 shares owned by CMH Capital Management Corp., an entity solely owned by Mr. Horowitz; (ii) 67,470 shares owned by Donna Slavitt, the wife of Mr. Horowitz, (iii) an aggregate of 452,250 shares held by two trusts and a custodian account for the benefit of Mr. Horowitz's three children; (iv) 2,291 shares of common stock held by Horowitz Partners, a general partnership of which Mr. Horowitz is a partner; and (v) 134,275 shares of common stock owned by CMH Capital Management Corp. Profit Sharing Plan, an entity of which Mr. Horowitz, as trustee, has sole voting and investment power with respect to the shares.