Scott W. Absher - Aug 12, 2022 Form 4 Insider Report for ShiftPixy, Inc. (PIXY)

Signature
/s/ Scott W. Absher
Stock symbol
PIXY
Transactions as of
Aug 12, 2022
Transactions value $
$820,793
Form type
4
Date filed
8/16/2022, 04:03 PM
Previous filing
Jul 19, 2022
Next filing
Aug 29, 2022

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 PIXY Option for Shares of Preferred Class A Stock Other $821K +1 +100% $820,793.24* 2 Aug 12, 2022 Preferred Class A Stock par value $0.0001 per share 4.1M Direct F1, F2, F3, F4, F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 There is no conversion or exercise price applicable to the acquisition of this option; however, the purchase price for the option is reported in column 8. The exercise price of the underlying derivative securities, upon exercise of the option, is the par value of $0.0001 per share.
F2 The Reporting Person and the Issuer entered into an instrument whereby the Reporting Person waived claims to certain unpaid compensation due to him from the Issuer through July 31, 2022, in the amount of $820,793.24, in exchange for the Issuer's issuance to the Reporting Person of an option to receive 4,100,000 shares of the Company's Preferred Class A Stock.
F3 A single option was given to acquire 4,100,000 shares of the Company's Preferred Class A Stock.
F4 The option granted through the instrument is exercisable at any time.
F5 The option granted through the instrument has no expiration date.
F6 The price paid for the option was the waiver of claims by the Reporting Person to certain unpaid compensation due to him from the Issuer through July 31, 2022, in the amount of $820,793.24.
F7 The Reporting Person has (a) 1 option to acquire 4,100,000 shares of the Company's Preferred Class A Stock, and (b) 1 previously issued option, yet unexercised, to acquire 4,500,000 shares of the Company's Preferred Class A Stock; thus, collectively the Reporting Person has 2 options to acquire a total of up to 8,600,000 shares of the Company's Preferred Class A Stock.