Todd Robert Michaels - May 23, 2024 Form 4 Insider Report for Correlate Energy Corp. (CIPI)

Role
President and CEO, Director, 10%+ Owner
Signature
/s/ Todd Robert Michaels
Stock symbol
CIPI
Transactions as of
May 23, 2024
Transactions value $
$5,120,000,000
Form type
4
Date filed
5/30/2024, 12:08 PM
Previous filing
Oct 27, 2023
Next filing
Jun 21, 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 CIPI Convertible Promissory Note Award $5.12B +64K +5.33% $80,000.00* 1.26M May 23, 2024 Common stock 64K $1.25 Direct F1
transaction CIPI Warrant Award $0 +80K +6.33% $0.00 1.34M May 23, 2024 Common stock 80K $0.85 Direct F2, F3
holding CIPI Warrant 50K May 23, 2024 Common stock 50K $1.00 By Spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The note is convertible into common stock of the Issuer at the lesser of: (i) $1.25 per share of the Company's Common Stock, subject to adjustment for stock splits or (ii) a thirty percent (30%) discount to the public offering price per share of Common Stock or unit (consisting of one share of Common Stock and warrants) sold by the Company in connection with a public offering, however, $1.25 has been used for purposes of filing this Form 4.
F2 The warrants are exercisable at an exercise price equal to the lower of: (i) $0.85 per share, as adjusted for stock splits and other adjustments, and (ii) the offering price of the Company's Common Stock, or units consisting of one share of Common Stock and warrants in connection with a public offering, however, $0.85 has been used for purposes of filing this Form 4.
F3 Issued as consideration in connection with the purchase of a convertible promissory note from the Issuer.