Ronan Kennedy - Sep 23, 2024 Form 4 Insider Report for cbdMD, Inc. (YCBD)

Signature
/s/ T. Ronan Kennedy
Stock symbol
YCBD
Transactions as of
Sep 23, 2024
Transactions value $
$23,052
Form type
4
Date filed
9/25/2024, 08:28 PM
Previous filing
May 5, 2023
Next filing
Sep 30, 2024

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 YCBD 8% Series A Cumulative Convertible Preferred Stock Purchase $23.1K +38.5K +1672.39% $0.60 40.8K Sep 23, 2024 Common Stock 143 $270.00 By CRED Trust F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Preferred Stock has no maturity and remains outstanding unless a holder chooses to convert it into common stock, the Issuer elects to automatically convert it into shares of its common stock upon a "Market Trigger", as defined in the Issuer's Certificate of Designations, Rights and Preferences of the Preferred Stock filed on October 11, 2019 (the "Designation"), the Issuer elects to redeem it, or a Change of Control, occurs resulting in a mandatory redemption. The Issuer may elect to convert the Preferred Stock into shares of common stock if the closing price of the common stock has exceeded $371.25 for at least 20 out of 30 consecutive trading days ending within 5 trading days prior to the notice of automatic conversion. The Issuer may redeem the Preferred Stock at $10 per share, plus all accrued and unpaid dividends. Upon the occurrence of a Change of Control the Issuer will redeem all of the shares of Preferred Stock at $11 per share, plus any accrued but unpaid dividends.
F2 Represents shares of common stock held by CRED Trust for which the Reporting Person is the trustee and holds voting and dispositive control.