Thomas E. Vickers - 08 Sep 2022 Form 4 Insider Report for GIGA TRONICS INC

Role
Director
Signature
/s/ Thomas E. Vickers
Issuer symbol
N/A
Transactions as of
08 Sep 2022
Net transactions value
-$115,647
Form type
4
Filing time
12 Sep 2022, 06:09:41 UTC
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 GIGA Series B Convertible Voting Perpetual Preferred Shares Disposed to Issuer $73,229 -317 -100% $231.00* 0 08 Sep 2022 Common Stock 2,113 $34.65 Direct F1, F2
transaction GIGA Series C Convertible Voting Perpetual Preferred Shares Disposed to Issuer $17,235 -118 -100% $146.00* 0 08 Sep 2022 Common Stock 787 $21.90 Direct F1, F2
transaction GIGA Series D Convertible Voting Perpetual Preferred Shares Disposed to Issuer $25,182 -176 -100% $143.00* 0 08 Sep 2022 Common Stock 1,174 $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.