Scott W. Absher - Sep 1, 2022 Form 4 Insider Report for ShiftPixy, Inc. (PIXY)

Role: CEO, Director, 10%+ Owner
Signature: /s/ Scott W. Absher
Stock symbol: PIXY
Transactions as of: Sep 1, 2022
Transactions value $: $1,680,179,207
Form type: 4
Date filed: 9/2/2022, 06:38 PM
Previous filing: Aug 31, 2022
Next filing: Sep 11, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PIXY	Common Stock, Par Value $0.0001 Per Share	Options Exercise	$1.68B	+4.1M	+50461.54%	$410.00^*	4.11M	Sep 1, 2022	Direct	F1, F2
transaction	PIXY	Common Stock, Par Value $0.0001 Per Share	Options Exercise	$0	+4.5M	+109.54%	$0.00	8.61M	Sep 1, 2022	Direct	F3, 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	PIXY	Option for Preferred Class A Stock par value $0.0001/share	Options Exercise	-$821K	-1	-100%	$820,793.24^*	0	Sep 1, 2022	Preferred Class A Stock par value $0.0001 per share	4.1M	$410.00	Direct	F5, F6, F7, F8, F9, F10
transaction	PIXY	Preferred Class A Stock, par value $0.0001 per share	Options Exercise	$1.68B	+4.1M	+91.11%	$410.00^*	8.6M	Sep 1, 2022	Common Stock par value $0.0001 per share	4.1M		Direct	F11, F12, F13, F14
transaction	PIXY	Preferred Class A Stock, par value $0.0001 per share	Options Exercise	-$1.68B	-4.1M	-47.67%	$410.00^*	4.5M	Sep 1, 2022	Common Stock par value $0.0001 per share	4.1M	$0.00	Direct	F11, F13, F14, F15, F16
transaction	PIXY	Preferred Class A Stock, par value $0.0001 per share	Options Exercise		-4.5M	-100%		0	Sep 1, 2022	Common Stock par value $0.0001 per share	4.5M	$0.00	Direct	F13, F14, F15, F17

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

Explanation of Responses:

Id	Content
F1	Reporting Person received 4,100,000 shares of Common Stock upon the conversion of 4,100,000 shares of Preferred Class A Stock.
F2	Price reflects amount paid at conversion, but excludes amounts paid to acquire shares of Preferred Class A Stock.
F3	Reporting Person received 4,500,000 shares of Common Stock upon the conversion of 4,500,000 shares of Preferred Class A Stock.
F4	There was no cost to effect conversion, but price excludes amounts paid to acquire shares of Preferred Class A Stock.
F5	The option was exercisable at the par value price for the shares of Preferred Class A Stock; however, the price excludes amounts paid to acquire the option, which is listed in column 8.
F6	The Reporting Person exercised the option to receive 4,100,000 shares of Preferred Class A Stock.
F7	Only a single option instrument provided for the exercise and the right to receive the shares.
F8	The option was exercisable at any time following its issuance.
F9	There was no expiration date on the option.
F10	The option was acquired when the Reporting Person waived claims to deferred, bonus and paid time off compensation due to him by the Issuer in the amount of $820,793.24.
F11	The Reporting Person paid a total of $410 to exercise an option to obtain the 4,100,000 shares of Preferred Class A Stock. The price excludes amounts paid to obtain the option. There is no additional cost to convert the shares of Preferred Class A Stock to Common Stock.
F12	The Reporting Person acquired the 4,100,000 shares of Preferred Class A Stock, upon the exercise of an option.
F13	The shares of Preferred Class A Stock, are convertible to Common Stock at any time.
F14	There was no expiration date on the ability of the Reporting Person to convert the shares of Preferred Class A Stock, to Common Stock.
F15	No price was required to be paid to convert the shares of Preferred Class A Stock to shares of Common Stock.
F16	The Reporting Person converted 4,100,000 shares of Preferred Class A Stock, to 4,100,000 shares of Common Stock. See Note 1.
F17	As previously reported, the Reporting Person surrendered an option to acquire 12,500,000 shares of Preferred Class A Stock and tendered additional sum of $5,000 in exchange for the issuance to the Reporting Person of 12,500,000 shares of Preferred Class A Stock. The Reporting Person thereafter converted 8,000,000 shares of the Preferred Class A Stock to Common Stock, leaving 4,500,000 shares of Preferred Class A Stock. In this transaction, the Reporting Person converted the remaining 4,500,000 shares of Preferred Class A Stock to 4,500,000 shares of Common Stock.