Adam Zalko - 28 Mar 2023 Form 4 Insider Report for PALTALK, INC. (IPM)

Role: Senior Vice President
Signature: /s/ Adam Zalko
Issuer symbol: IPM
Transactions as of: 28 Mar 2023
Net transactions value: $0
Form type: 4
Filing time: 29 Mar 2023, 16:16:46 UTC
Previous filing: 30 Mar 2022
Next filing: 08 Jan 2025
SEC: View on sec.gov

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	+10,000		$0.000000	10,000	28 Mar 2023	Common Stock	10,000	$1.94	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The stock option was granted pursuant to a stock option agreement dated March 28, 2023 (the "Option Agreement"). The shares underlying this stock option 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), 100% of the then-unvested shares shall immediately vest and become fully exercisable, if not previously so exercisable, on the date of the change in control.

Content

The stock option was granted pursuant to a stock option agreement dated March 28, 2023 (the "Option Agreement"). The shares underlying this stock option 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), 100% of the then-unvested shares shall immediately vest and become fully exercisable, if not previously so exercisable, on the date of the change in control.