Lyle Berman - 23 Nov 2022 Form 4/A - Amendment Insider Report for Mill City Ventures III, Ltd (MCVT)

Role
Director
Signature
/s/ Lyle Berman
Issuer symbol
MCVT
Transactions as of
23 Nov 2022
Net transactions value
$0
Form type
4/A - Amendment
Filing time
01 Dec 2022, 20:55:49 UTC
Date Of Original Report
25 Nov 2022
Previous filing
25 Aug 2022
Next filing
05 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MCVT Common Stock 215,556 23 Nov 2022 Direct F1

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 MCVT Non-qualified stock options Award $0 +100,000 $0.000000 100,000 23 Nov 2022 Common stock 100,000 $2.12 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Of the reported amount, 6,667 common shares are subject to forfeiture pursuant to a restricted stock agreement with the issuer. Forfeiture restrictions on those 6,667 common shares lapse on January 24, 2023.
F2 Options were issued to the reporting person pursuant to an award approved, without restrictions, by the Compensation Committee of the Board of Directors of the issuer on November 23, 2022. The exercise price is the closing market price of the common stock on the date of the award.
F3 The options are not exercisable by their terms unless and until the related equity compensation plan shall have been approved by the issuer's shareholders.

Remarks:

This amendment is being filed to correct a reporting error in the original filing indicating that the award made on 11/23/2022 was a stock award. Accordingly, the relevant row in Table I has been removed and the corrected information now appears in Table II.