Yoav Efron - Sep 15, 2022 Form 4 Insider Report for ACTELIS NETWORKS INC (ASNS)

Signature
/s/ Yoav Efron
Stock symbol
ASNS
Transactions as of
Sep 15, 2022
Transactions value $
$0
Form type
4
Date filed
9/19/2022, 04:15 PM
Previous filing
May 17, 2022

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 ASNS Restricted Stock Units Award $0 +25K $0.00 25K Sep 15, 2022 Common Stock, $0.0001 par value 25K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Restricted Stock Units (the "RSUs") were granted to the Reporting Person as fees for services provided to the Company in the Issuer's position as Chief Financial Officer of the Company. The RSUs vests yearly in three equal tranches, with the first tranche vesting on May 17, 2023, the second tranche vesting on May 17, 2024, and the last tranche vesting on May 17, 2025, subject to the Reporting Person's continued service as the Company's Chief Financial Officer through each date that the options shall vest, unless the Reporting Person's engagement with the Issuer is terminated, in which case the unvested RSUs will vest at the termination date, based on the upcoming annual anniversary amount, pro-rated to the date of termination. Each RSU represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof. The Board, in its sole discretion, will determine in accordance with the terms and conditions of the Issuer's 2015 Equity Incentive Plan, as amended, the form of payout of the RSUs (cash and/or stock).