Adam Zalko - Mar 29, 2022 Form 4 Insider Report for PALTALK, INC. (PALT)

Role: Vice President of Engineering
Signature: /s/ Adam Zalko
Stock symbol: PALT
Transactions as of: Mar 29, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/30/2022, 05:31 PM
Previous filing: Jan 19, 2022
Next filing: Mar 29, 2023

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	PALT	Stock Option (Right to Buy)	Award	$0	+15K		$0.00	15K	Mar 29, 2022	Common Stock	15K	$2.66	Direct	F1

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

Explanation of Responses:

Id	Content
F1	1. The stock option was granted pursuant to a stock option agreement dated March 29, 2022 (the "Option Agreement"). On the grant date, 5,000 shares vested and became exercisable. The remaining unvested shares will vest and become exercisable in four equal annual installments beginning on the first anniversary of the date of grant, as long as the reporting person is providing services to Paltalk, Inc. on such dates; provided, that upon the effective date of a "change in control" (as defined in the Paltalk, Inc. 2016 Long-Term Incentive Plan), 50% of the then-unvested shares immediately will vest on the date of the change in control and the remaining 50% of the then-unvested shares will vest on the earlier of (i) the original date such shares would have vested or (ii) on the first and second anniversaries of the effective date of the change in control in equal installments, in each case subject to the terms and conditions of the Option Agreement.

Content

1. The stock option was granted pursuant to a stock option agreement dated March 29, 2022 (the "Option Agreement"). On the grant date, 5,000 shares vested and became exercisable. The remaining unvested shares will vest and become exercisable in four equal annual installments beginning on the first anniversary of the date of grant, as long as the reporting person is providing services to Paltalk, Inc. on such dates; provided, that upon the effective date of a "change in control" (as defined in the Paltalk, Inc. 2016 Long-Term Incentive Plan), 50% of the then-unvested shares immediately will vest on the date of the change in control and the remaining 50% of the then-unvested shares will vest on the earlier of (i) the original date such shares would have vested or (ii) on the first and second anniversaries of the effective date of the change in control in equal installments, in each case subject to the terms and conditions of the Option Agreement.