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

Signature
/s/ Todd Robert Michaels
Issuer symbol
CIPI
Transactions as of
23 May 2024
Net transactions value
+$5,120,000,000
Form type
4
Filing time
30 May 2024, 12:08:49 UTC
Previous filing
27 Oct 2023
Next filing
21 Jun 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 $5,120,000,000 +64,000 +5.3% $80000.00* 1,264,000 23 May 2024 Common stock 64,000 $1.25 Direct F1
transaction CIPI Warrant Award $0 +80,000 +6.3% $0.000000 1,344,000 23 May 2024 Common stock 80,000 $0.8500 Direct F2, F3
holding CIPI Warrant 50,000 23 May 2024 Common stock 50,000 $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.