Norman H. Pessin - Oct 1, 2021 Form 4 Insider Report for DUOS TECHNOLOGIES GROUP, INC. (DUOT)

Role
10%+ Owner
Signature
/s/ Norman H. Pessin
Stock symbol
DUOT
Transactions as of
Oct 1, 2021
Transactions value $
$0
Form type
4
Date filed
10/5/2021, 01:49 PM
Previous filing
Oct 7, 2022
Next filing
Oct 6, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DUOT Common Stock 103K Oct 1, 2021 Direct F1
holding DUOT Common Stock 71.4K Oct 1, 2021 Direct F1, F2
holding DUOT Common Stock 75K Oct 1, 2021 Direct F1, F3

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
holding DUOT Series B Convertible Preferred Stock 1.71K Oct 1, 2021 Common Stock 244K $7.00 Direct F2, F4, F5
holding DUOT Series C Convertible Preferred Stock 1.5K Oct 1, 2021 Common Stock 273K $5.50 Direct F2, F6, F7
holding DUOT Series C Convertible Preferred Stock 500 Oct 1, 2021 CommonStock 90.9K $5.50 Direct F3, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by Norman H. Pessin, Brian L. Pessin and Sandra F. Pessin (collectively, the "Reporting Persons"). Each Reporting Person may be deemed to be a member of a Section 13(d) group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of common stock. Each Reporting Person disclaims beneficial ownership of the shares of common stock reported herein except to the extent of his or her pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of common stock for purposes of Section 16 or for any other purpose.
F2 Shares beneficially owned by Sandra F. Pessin, Norman H. Pessin's spouse. Norman H. Pessin expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F3 Shares beneficially owned by Brian L. Pessin. Norman H. Pessin and Sandra F. Pessin expressly disclaim beneficial ownership of such shares.
F4 On October 1, 2021, Sandra L. Pessin and the Issuer agreed to increase the beneficial ownership limitation applicable to the Series B Convertible Preferred Stock ("Series B Preferred Stock") from 4.99% to 9.99% with respect to Common Stock owned by Sandra F. Pessin, affiliates of Sandra F. Pessin or members of a group with Sandra F. Pessin. As a result of this limitation, a portion of such shares of Series B Preferred Stock (convertible into 121,572 shares of Common Stock) are not currently convertible. The Series B Preferred Stock has no stated maturity date.
F5 Sandra F. Pessin owns 1,705 shares of Series B Preferred Stock convertible into 243,572 shares of Common Stock.
F6 On October 1, 2021, Sandra L. Pessin and the Issuer agreed to increase the beneficial ownership limitation applicable to the Series C Convertible Preferred Stock ("Series C Preferred Stock") from 4.99% to 19.99% with respect to Common Stock owned by Sandra F. Pessin, affiliates of Sandra F. Pessin or members of a group with Sandra F. Pessin. As a result, all of such shares of Series C Preferred Stock are now convertible into Common Stock. The Series C Preferred Stock has no stated maturity date.
F7 Sandra F. Pessin owns 1,500 shares of Series C Preferred Stock convertible into 272,727 shares of Common Stock.
F8 On October 1, 2021, Brian L. Pessin and the Issuer agreed to increase the beneficial ownership limitation applicable to the Series C Preferred Stock from 4.99% to 19.99% with respect to the Common Stock owned by Brian L. Pessin, affiliates of Brian L. Pessin or members of a group with Brian L. Pessin. As a result, all of such shares of Series C Preferred Stock are now convertible into Common Stock. The Series C Preferred Stock has no stated maturity date.
F9 Brian L. Pessin owns 500 shares of Series C Preferred Stock convertible into 90,909 shares of Common Stock.