Xin He - Jul 1, 2024 Form 4 Insider Report for Professional Diversity Network, Inc. (IPDN)

Role
CEO, 10%+ Owner
Signature
/s/ Xin He
Stock symbol
IPDN
Transactions as of
Jul 1, 2024
Transactions value $
$495,000
Form type
4
Date filed
7/5/2024, 05:21 PM
Previous filing
Jul 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IPDN Common Stock Award $0 +40K +16.6% $0.00 281K Jul 1, 2024 Direct F2
transaction IPDN Common Stock Award $495K +1M +355.95% $0.50 1.28M Jul 1, 2024 See footnote F3

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 IPDN Restricted Stock Units Award $0 +40K $0.00 40K Jul 19, 2023 Common Stock 40K $0.00 Direct F1, F2
holding IPDN Stock Options 15K Jul 1, 2024 Common Stock 15K $4.46 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
F2 On July 18, 2023, the Company granted an award of 120,000 shares of Restricted Stock Units to Mr. He in connection with the execution of an employment agreement between the Company and Mr. He. The Restricted Stock Units issued to the Executive will vest one third (1/3) annually. The last 40,000 shares underlying the Restricted Stock Units will vest on July 18, 2025.
F3 On June 28, 2024, the Company entered into a stock purchase agreement of 1,000,000 shares of the Company's common stock at a unit price of $0.495 with Eighty-eight Investment LLC, wholly owned and controlled by Mr. He. The Agreement resulted in aggregate proceeds of $495,000.
F4 Mr. He held 15,000 shares of stock option of the Company prior to the reported transactions.