Theresa Carlise - Aug 21, 2020 Form 4/A - Amendment Insider Report for ORBSAT CORP (NXPLW)

Role: Chief Accounting Officer
Signature: /s/ Theresa Carlise
Stock symbol: NXPLW
Transactions as of: Aug 21, 2020
Transactions value $: -$2
Form type: 4/A - Amendment
Date filed: 9/24/2021, 04:19 PM
Date Of Original Report: Sep 1, 2020
Next filing: Dec 20, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXPLW	Common Stock, par value $0.0001	Award	$0	+1K		$0.00	1K	Aug 21, 2020	Direct	F1, F2
transaction	NXPLW	Common Stock, par value $0.0001	Options Exercise	$14.2K	+14.2K	+1420%	$1.00	15.2K	Sep 23, 2021	Direct	F1, F3
transaction	NXPLW	Common Stock, par value $0.0001	Tax liability	-$14.2K	-2.76K	-18.18%	$5.14	12.4K	Sep 23, 2021	Direct	F3

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	NXPLW	Non-Qualified Stock Option (right to buy)	Award	$0	+14.2K		$0.00	14.2K	Aug 21, 2020	Common Stock	14.2K	$1.00	Direct	F4
transaction	NXPLW	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-14.2K	-100%	$0.00^*	0	Sep 23, 2021	Common Stock	14.2K	$1.00	Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	This Form 4 Amendment is being submitted to correct the disclosure regarding the options granted on 8/21/2020. On May 28, 2021, the Issuer effected a 1-for-5 reverse stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split.
F2	Represents restricted stock awarded by the Board of Directors on 8/21/2020 and granted pursuant to the Company's 2020 Equity Incentive Plan.
F3	On September 23, 2021, the reporting person exercised options to purchase 14,200 shares at $1.00 per share. The Reporting Person paid the exercise price on a cashless basis (a "net exercise"), resulting in the Issuer withholding 2,763 of the option shares to pay the exercise price and issuing to the Reporting Persons the remaining 11,437 shares.
F4	The grant of these options was approved by the Registrants Board of Directors on 8/21/2020 and subject to the Company's 2020 Equity Incentive Plan. All options vested immediately upon grant date.