Dennis P. Calvert - Jul 7, 2022 Form 4 Insider Report for BIOLARGO, INC. (BLGO)

Role
President, Director
Signature
/s/ John R. Browning, Attorney-in-fact
Stock symbol
BLGO
Transactions as of
Jul 7, 2022
Transactions value $
$28,100
Form type
4
Date filed
7/8/2022, 11:14 AM
Previous filing
Dec 30, 2021
Next filing
Oct 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLGO Common stock Award $28.1K +156K +1.64% $0.18 9.66M Jul 7, 2022 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 1,528,695 shares owned indirectly by Reporting Person through a limited liability company owned and controlled by Reporting Person.
F2 The shares issued are unvested and subject to a Lock-Up Agreement dated as of the issuance date whereby shares vest only upon the earlier of (i) the sale of the Issuer of substantially all of its assets, (ii) the successful commercialization of Issuer's products or technologies as demonstrated by its receipt of at least $5,000,000 in cash, or the recognition of $5,000,000 in revenue, over a 12-month period from the sale of products and/or the license of technology; and (iii) the Company's breach of the employment agreement between the Company and Reporting Person and resulting in Reporting Person's termination.
F3 Shares received from Issuer in exchange for a reduction in amounts owed by Issuer to Reporting Person for salary and unreimbursed business expenses (equal to the product of the number of shares issued and the acquisition price per share).