Norman H. Pessin - Feb 4, 2022 Form 4 Insider Report for DUOS TECHNOLOGIES GROUP, INC. (DUOT)

Role
10%+ Owner
Signature
/s/ Norman H. Pessin
Stock symbol
DUOT
Transactions as of
Feb 4, 2022
Transactions value $
$1,200,000
Form type
4
Date filed
2/8/2022, 08:27 AM
Previous filing
Oct 6, 2021
Next filing
Oct 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DUOT Common Stock Purchase $1.2M +300K +64.36% $4.00 766K Feb 4, 2022 Direct F1, F2
holding DUOT Common Stock 58K Feb 4, 2022 Direct F1
holding DUOT Common Stock 161K Feb 4, 2022 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 851 Feb 4, 2022 Common Stock 851 $7.00 Direct F2, F4, F5
* 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 851 shares of Series B Preferred Stock convertible into 121,572 shares of Common Stock.