Erez Raphael - 04 May 2023 Form 4 Insider Report for DarioHealth Corp. (DRIO)

Role: Chief Executive Officer, Director
Signature: /s/ Erez Raphael
Issuer symbol: DRIO
Transactions as of: 04 May 2023
Net transactions value: +$30,000
Form type: 4
Filing time: 08 May 2023, 16:11:15 UTC
Previous filing: 18 Jan 2023
Next filing: 08 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	DRIO	Common Stock						1,112,059	04 May 2023	Direct
holding	DRIO	Common Stock						37,876	04 May 2023	By Dicilyon Consulting and Investment Ltd.	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	DRIO	Series B-2 Preferred Stock	Purchase	$30,000	+30		$1000.00^*	30	04 May 2023	Common Stock		$3.37	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	The amount shown represents the beneficial ownership of the issuer's securities held by Dicilyon Consulting and Investment Ltd. which may be deemed to be attributable to Mr. Raphael because Mr. Raphael possesses voting and dispositive power over the securities held by Dicilyon Consulting and Investment Ltd. by virtue of a proxy. Mr. Raphael disclaims beneficial ownership of the securities set forth herein.
F2	The Series B Preferred Stock will automatically convert into shares of common stock, subject to certain beneficial ownership limitations, including a non-waivable 19.99% ownership blocker, on the 15-month anniversary of the issuance date.
F3	The Series B Preferred Stock initially converts into shares of common stock at a conversion price of $3.37. In addition, the holders of Series B Preferred Stock will also be entitled dividends payable as follows: (i) a number of shares of Common Stock equal to five percent (5.0%) of the number of shares of Common Stock issuable upon conversion of the Series B Preferred Stock then held by such holder for each full quarter anniversary of holding for a total of four (4) quarters from the closing date, and (ii) a number of shares of common stock equal to ten percent (10%) of the number of shares of common stock issuable upon conversion of the Series B Preferred Stock then held by such holder on the fifth full quarter from the closing date.