Milton C. Ault III - May 17, 2022 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

Role
10%+ Owner
Signature
/s/ Milton C. Ault, III
Stock symbol
ALZN
Transactions as of
May 17, 2022
Transactions value $
$23,343
Form type
4
Date filed
5/18/2022, 09:20 PM
Previous filing
May 17, 2022
Next filing
May 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ALZN Common Stock Purchase $23.3K +23.9K +0.24% $0.98 9.82M May 17, 2022 By Digital Power Lending, LLC F1, F2
transaction ALZN Common Stock Other $2.75K +1.1K +0.01% $2.50* 9.82M May 17, 2022 By Digital Power Lending, LLC F2, F3
holding ALZN Common Stock 2.5M May 17, 2022 Direct
holding ALZN Common Stock 14.9M May 17, 2022 By Ault Life Sciences, Inc. F4
holding ALZN Common Stock 10M May 17, 2022 By Ault Life Sciences Fund, LLC F5
holding ALZN Common Stock 325K May 17, 2022 By Ault Alpha LP F6

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 ALZN Put Option (obligation to buy) Other -$2.75K -11 -22% $250.00 39 May 17, 2022 Common Stock 1.1K $2.50 By Digital Power Lending, LLC F2, F3, F7
holding ALZN Call Option (right to buy) 70 May 17, 2022 Common Stock 7K $2.50 By Digital Power Lending, LLC F2, F7
holding ALZN Call Option (right to buy) 150 May 17, 2022 Common Stock 15K $2.50 By Digital Power Lending, LLC F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The common stock was purchased by the reporting person in open market transactions on the transaction date, with a volume weighted average purchase price of $0.9767. The range of purchase prices on the transaction date was $0.96 to $0.98 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.
F2 Digital Power Lending, LLC ("DPL") is a wholly-owned subsidiary of BitNile Holdings, Inc. ("BH"). Mr. Ault, the Executive Chairman of BH, is deemed to have voting and investment power with respect to the securities held of record by DPL.
F3 On November 4, 2021, DPL wrote 50 put option contracts expiring in May 2022, which provided that DPL will be required to purchase shares of common stock at the stated strike price if the counterparty exercises such put options. On the transaction date listed above, the counterparty exercised 11 of such put options at $2.50 per share of common stock.
F4 Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences, Inc.
F5 Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC.
F6 Milton C. Ault, III, is the Manager of Ault Alpha GP LLC ("Ault GP") and Ault Capital Management LLC ("AC Management"). Ault GP and AC Management are the general partner and investment manager to Ault Alpha LP, respectively. As such, Mr. Ault is deemed to beneficially own the shares held by Ault Alpha LP.
F7 The security listed is an exchange-traded option contract. Exchange-traded options are immediately exercisable and remain exercisable until expiration.