Scott W. Absher - 01 Sep 2022 Form 4 Insider Report for ShiftPixy, Inc.

Role
CEO, Director, 10%+ Owner
Signature
/s/ Scott W. Absher
Issuer symbol
N/A
Transactions as of
01 Sep 2022
Net transactions value
+$1,680,179,207
Form type
4
Filing time
02 Sep 2022, 18:38:55 UTC
Previous filing
31 Aug 2022
Next filing
11 Sep 2023
SEC
View on sec.gov

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 $1,681,000,000 +4,100,000 +50462% $410.00* 4,108,125 01 Sep 2022 Direct F1, F2
transaction PIXY Common Stock, Par Value $0.0001 Per Share Options Exercise $0 +4,500,000 +110% $0.000000 8,608,125 01 Sep 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 $820,793 -1 -100% $820793.24* 0 01 Sep 2022 Preferred Class A Stock par value $0.0001 per share 4,100,000 $410.00 Direct F5, F6, F7, F8, F9, F10
transaction PIXY Preferred Class A Stock, par value $0.0001 per share Options Exercise $1,681,000,000 +4,100,000 +91% $410.00* 8,600,000 01 Sep 2022 Common Stock par value $0.0001 per share 4,100,000 Direct F11, F12, F13, F14
transaction PIXY Preferred Class A Stock, par value $0.0001 per share Options Exercise $1,681,000,000 -4,100,000 -48% $410.00* 4,500,000 01 Sep 2022 Common Stock par value $0.0001 per share 4,100,000 $0.000000 Direct F11, F13, F14, F15, F16
transaction PIXY Preferred Class A Stock, par value $0.0001 per share Options Exercise -4,500,000 -100% 0 01 Sep 2022 Common Stock par value $0.0001 per share 4,500,000 $0.000000 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.