John E. Herzog - Jan 3, 2022 Form 4 Insider Report for OLB GROUP, INC. (OLB)

Role
10%+ Owner
Signature
/s/ John E. Herzog
Stock symbol
OLB
Transactions as of
Jan 3, 2022
Transactions value $
-$115,215
Form type
4
Date filed
2/4/2022, 04:07 PM
Previous filing
Dec 16, 2021
Next filing
Feb 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OLB Common Stock Award +290K +14.34% 2.31M Jan 3, 2022 Direct F1
transaction OLB Common Stock Sale -75K -3.24% 2.24M Jan 5, 2022 Direct F2
transaction OLB Common Stock Sale -$115K -50K -2.23% $2.30 2.19M Feb 2, 2022 Direct
holding OLB Common Stock 28.5K Jan 3, 2022 By John E. Herzog Revocable Trust u/a 02/07/2014 F3
holding OLB Common Stock 2.7K Jan 3, 2022 Held in an Individual Retirement Account

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 OLB Series A Convertible Preferred Stock 3.61K Jan 3, 2022 Common Stock 401K $9.00 Direct F4
holding OLB Series A Warrants 803K Jan 3, 2022 Common Stock 803K $9.00 Direct
holding OLB Series B Warrants 201K Jan 3, 2022 Common Stock 201K $4.50 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares issued pursuant to the closing of a Stock Exchange Agreement dated January 3, 2022 (the "Agreement") between the Reporting Person and the Issuer. The value of the Shares was, for purposes of the Agreement, based on the closing trading price of the Company on October 1, 2021 (the date on which a third-party fairness opinion was issued), which was $4.02 per share.
F2 75,000 shares were sold for a total sale price of $1.00.
F3 These shares are held by John E Herzog, Trustee, John E. Herzog Revocable Trust U/A/D 02/07/2014. The Reporting Person serves as a trustee of the John E. Herzog Revocable Trust U/A/D 02/07/2014.
F4 The Series A Preferred Stock are convertible into shares of Common Stock of the registrant, at the option of the reporting person, on or after the date on which certain of the registrant's long term indebtedness is repaid in full and there is no further outstanding obligations regarding such indebtedness.