Charles M. Fernandez - Jan 5, 2022 Form 4 Insider Report for ORBSAT CORP (NXPLW)

Signature
/s/ Charles M Fernandez
Stock symbol
NXPLW
Transactions as of
Jan 5, 2022
Transactions value $
$2,200,002
Form type
4
Date filed
1/6/2022, 02:11 PM
Previous filing
Dec 20, 2021
Next filing
Oct 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXPLW Common Stock, par value $0.0001 Purchase $2.2M +679K +67.37% $3.24 1.69M Jan 5, 2022 Direct F1, F2
holding NXPLW Common Stock, par value $0.0001 0 Jan 5, 2022 Shares held by eApeiron Partners, LLC. Mr. Fernandez is owner and manager of eApeiron Partners, LLC. F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 679,013 shares of the Issuer's common stock acquired by the Reporting Person from the Issuer in a private placement transaction that closed on January 5, 2022, pursuant to a Securities Purchase Agreement dated December 31, 2021. The purchase price for the acquired shares was $3.24 per share, which is the closing transaction price of the Issuer's common stock reported by Nasdaq on December 31, 2021.
F2 Includes a restricted stock award for 275,000 shares of common stock that was effective 12/16/21 (the "Grant Date"). One half of the award (137,500 shares) was fully vested and issued on Grant Date and the remaining half (137,500 shares) will vest and be issued on the one year anniversary of the Grant Date. The award was granted pursuant to the Orbsat Corp 2021 Incentive Award Plan.
F3 On May 28, 2021, a restricted stock award for 600,000 shares of common stock was granted to eApeiron Partners LLC, of which Mr. Fernandez is owner and manager. The shares vest in three equal installments annually, commencing on May 27, 2022.