Robert P. McDermott - Aug 25, 2023 Form 3 Insider Report for iCoreConnect Inc. (ICCT)

Role: CEO, President and Chairman, Director, 10%+ Owner
Signature: /s/ Robert McDermott
Stock symbol: ICCT
Transactions as of: Aug 25, 2023
Transactions value $: $0
Form type: 3
Date filed: 9/12/2023, 07:31 AM
Previous filing: Jul 27, 2023
Next filing: Oct 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ICCT	Common Stock						840K	Aug 25, 2023	Direct

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
holding	ICCT	Series A Preferred Stock							Aug 25, 2023	Common stock	5K		Direct	F1, F2
holding	ICCT	Warrants (right to buy)							Aug 25, 2023	Common stock	3.75K	$11.50	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Series A Preferred Stock is convertible, at the option of the holder thereof, at any time, and without the payment of additional consideration by the holder thereof, into shares of Common Stock.
F2	Each share of Series A Preferred Stock is convertible into shares of Common Stock as is determined by dividing the Original Issue Price of $10.00 by the Conversion Price in effect at the time of conversion. The amount set forth in the table is based on an assumed Conversion Price of $10.00 per share, which is the current Conversion Price. The Conversion Price will be reset to the lesser of $10.00 or 20% above the simple average of the volume weighted average price on the 20 trading days following 12 months after August 25, 2023; provided further that such Conversion Price shall be no greater than $10.00 and no less than $2.00 (such amounts subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization).

Content

Each share of Series A Preferred Stock is convertible, at the option of the holder thereof, at any time, and without the payment of additional consideration by the holder thereof, into shares of Common Stock.

Each share of Series A Preferred Stock is convertible into shares of Common Stock as is determined by dividing the Original Issue Price of $10.00 by the Conversion Price in effect at the time of conversion. The amount set forth in the table is based on an assumed Conversion Price of $10.00 per share, which is the current Conversion Price. The Conversion Price will be reset to the lesser of $10.00 or 20% above the simple average of the volume weighted average price on the 20 trading days following 12 months after August 25, 2023; provided further that such Conversion Price shall be no greater than $10.00 and no less than $2.00 (such amounts subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization).