Todd Robert Michaels - Jun 14, 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
Jun 14, 2024
Transactions value $
$44,121,388
Form type
4
Date filed
6/21/2024, 03:52 PM
Previous filing
May 30, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CIPI Common Stock Other $11.60 +116K +4794.22% $0.00* 119K Jun 14, 2024 By Spouse F1
transaction CIPI Common Stock Other $38.20 +382K +322.31% $0.00* 501K Jun 14, 2024 By Spouse F1
transaction CIPI Common Stock Other $23.60 +236K +6.97% $0.00* 3.63M Jun 14, 2024 Direct F1
transaction CIPI Common Stock Other $4.92 +49.2K +1.36% $0.00* 3.68M Jun 14, 2024 Direct F1

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 Series A Preferred Stock Other $11.3M +106 +0.01% $106,367.00* 1.47M Jun 14, 2024 Common Stock 125K $0.85 Direct F1, F2, F3
transaction CIPI Series A Preferred Stock Other $491K +22.2 +0% $22,154.00* 1.5M Jun 14, 2024 Common Stock 26.1K $0.85 Direct F1, F2, F3
transaction CIPI Series A Preferred Stock Other $2.73M +52.3 +0.05% $52,274.00* 111K Jun 14, 2024 Common Stock 61.5K $0.85 By Spouse F1, F2, F3
transaction CIPI Series A Preferred Stock Other $29.6M +172 +0.05% $172,000.00* 314K Jun 14, 2024 Common Stock 202K $0.85 By Spouse F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection the conversion of debt, the Company issued a combination of common stock and preferred stock to the Reporting Person.
F2 The Series A Preferred Stock has an initial conversion price of $0.85 per share, subject to adjustment for stock splits and a floating rate conversion price thereafter at a 25% discount to the 3-day VWAP prior to conversion and will exist until the Preferred Stock is retired, converted in full or repaid in full. The floating rate conversion price shall be subject to an initial floor price of $0.10 per share and will be increased upon the occurrence of a reverse split of the Company's common stock, but shall not exceed $0.50 per share in connection with any such reverse split.
F3 Perpetual.