Alfonso J. Cervantes JR - May 26, 2023 Form 4 Insider Report for SMART FOR LIFE, INC. (SMFL)

Role
Executive Chairman, Director
Signature
/s/ Alfonso J. Cervantes, Jr.
Stock symbol
SMFL
Transactions as of
May 26, 2023
Transactions value $
$827,553
Form type
4
Date filed
6/12/2023, 07:54 PM
Previous filing
Dec 21, 2022
Next filing
Sep 7, 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 SMFL Series B Preferred Stock Purchase $828K +3.71K $223.00* 3.71K May 26, 2023 Common Stock Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series B Preferred Stock is convertible at the option of the reporting person into such number of shares of Common Stock determined by dividing the stated value of $223.00 per share by the conversion price on such conversion date. The conversion price is initially equal to $2.23 per share, subject to standard adjustments for stock splits, stock combinations, stock dividends, reclassifications, mergers, consolidations, reorganizations and similar transactions (subject to certain beneficial ownership limitations).
F2 The reporting person received the shares of Series B Preferred Stock in exchange for the cancellation of deferred compensation owed to the reporting person in the amount of $827,484, or for approximately $223 per share.
F3 The Series B Preferred Stock has no expiration date.