STEVEN E. STRANG - 29 Sep 2021 Form 4 Insider Report for FREQUENCY ELECTRONICS INC (FEIM)

Role: President FEI-Zyfer
Signature: /s/ Steven Bernstein by power of attorney
Issuer symbol: FEIM
Transactions as of: 29 Sep 2021
Net transactions value: -$4
Form type: 4
Filing time: 30 Sep 2021, 12:22:00 UTC
Next filing: 02 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FEIM	Common Stock	Options Exercise	$72,500	+10,000		$7.25	10,000	29 Sep 2021	Direct
transaction	FEIM	Common Stock	Tax liability	$72,504	-6,840	-68%	$10.60	3,160	29 Sep 2021	Direct

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	FEIM	Stock Appreciation Rights	Options Exercise	$0	-10,000	-23%	$0.000000	33,000	29 Sep 2021	Common Stock	10,000	$7.25	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The Reporting Person performed a cashless exercise of a Stock Option based on 10,000 shares of Frequency Electronics common stock, receiving 3,160 which is equivalent to the appreciated value of the common stock since the grant date.