Douglas Ellenoff - Jan 5, 2022 Form 4 Insider Report for ORBSAT CORP (NXPLW)

Role: Chief Business Development, Director
Signature: /s/ Douglas Ellenoff
Stock symbol: NXPLW
Transactions as of: Jan 5, 2022
Transactions value $: $150,002
Form type: 4
Date filed: 1/6/2022, 05:42 PM
Previous filing: Mar 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXPLW	Common Stock, par value $0.0001	Purchase	$150K	+46.3K		$3.24	46.3K	Jan 5, 2022	By Spouse	F2
holding	NXPLW	Common Stock, par value $0.0001						125K	Jan 5, 2022	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Includes 100,000 shares of restricted common stock granted pursuant to that certain Employment Agreement, dated August 24, 2021, by and between the Company and the Reporting Person (the "Employment Agreement") and evidenced by a Restricted Stock Agreement, of which 40,000 shares vested immediately upon issuance on September 9, 2021, with an additional 20,000 shares of restricted stock to be issued and to vest on each of August 24, 2022, August 24, 2023 and August 24, 2024. Vesting conditioned on the Reporting Person serving on the Board of Directors at any time during the year in which the restricted stock is to vest.
F2	Represents 46,297 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.

Content

Includes 100,000 shares of restricted common stock granted pursuant to that certain Employment Agreement, dated August 24, 2021, by and between the Company and the Reporting Person (the "Employment Agreement") and evidenced by a Restricted Stock Agreement, of which 40,000 shares vested immediately upon issuance on September 9, 2021, with an additional 20,000 shares of restricted stock to be issued and to vest on each of August 24, 2022, August 24, 2023 and August 24, 2024. Vesting conditioned on the Reporting Person serving on the Board of Directors at any time during the year in which the restricted stock is to vest.

Represents 46,297 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.