Don Nicholson - Jul 8, 2021 Form 3 Insider Report for AGRIFORCE GROWING SYSTEMS LTD. (AGRI)

Role
Director
Signature
/s/ Donald Nicholson
Stock symbol
AGRI
Transactions as of
Jul 8, 2021
Transactions value $
$0
Form type
3
Date filed
7/27/2021, 01:03 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding AGRI Common shares 144K Jul 8, 2021 Direct
holding AGRI Common shares 437K Jul 8, 2021 By 0902550 BC Ltd.

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 AGRI Stock options Jul 8, 2021 Common shares 30.1K $3.80 Direct F1, F2, F3
holding AGRI Stock options Jul 8, 2021 Common shares 24.6K $7.00 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares subject to such option vest and become exercisable annually in substantially equal installments over a two-year period, with the first tranche vested at the date of grant of June 30, 2020, subject to the Reporting Person's continuous service to the Issuer on each such date.
F2 If permitted by the policies of any stock exchange on which the Issuer may be listed from time to time, the stock option may be exercised by means of a "cashless exercise", in which event the Issuer shall issue to the holder the net number of common shares determined based on the formula presented in the exhibit to the stock option certificate.
F3 The exercise price reported above was converted from the Canadian exercise price of CAD $4.75 using an exchange rate of CAD $1.25 = US $1.00.
F4 The shares subject to such option vest and become exercisable annually in substantially equal installments over a three-year period, with the first tranche to be vested on the three-month anniversary of date of grant of May 31, 2021, subject to the Reporting Person's continuous service to the Issuer on each such date.