Lutz P. Henckels - Sep 8, 2022 Form 4 Insider Report for GIGA TRONICS INC (GIGA)

Role
COO, CFO, EVP
Signature
/s/ Lutz P. Henckels
Stock symbol
GIGA
Transactions as of
Sep 8, 2022
Transactions value $
-$246,034
Form type
4
Date filed
9/12/2022, 06:08 AM
Previous filing
Mar 10, 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 GIGA Series B Convertible Voting Perpetual Preferred Shares Disposed to Issuer -$161K -697 -100% $231.00 0 Sep 8, 2022 Common Stock 4.65K $34.65 Direct F1, F2
transaction GIGA Series C Convertible Voting Perpetual Preferred Shares Disposed to Issuer -$34.5K -236 -100% $146.00 0 Sep 8, 2022 Common Stock 1.71K $21.90 Direct F1, F2
transaction GIGA Series D Convertible Voting Perpetual Preferred Shares Disposed to Issuer -$50.5K -353 -100% $143.00 0 Sep 8, 2022 Common Stock 2.35K $21.45 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of preferred stock is convertible at any time upon request into shares of common stock on a 1:6.67 basis. Such preferred stock has no expiration date.
F2 The Issuer agreed to repurchase all shares of its outstanding preferred stock upon the closing of the transactions contemplated by the Share Exchange Agreement dated as of December 27, 2021 by and among the Issuer, BitNile Holdings, Inc. and Gresham Worldwide, Inc., which closing occurred on September 8, 2022.