Dov Shiff - Feb 14, 2022 Form 4 Insider Report for SQL Technologies Corp. (SKYX)

Role
Director, 10%+ Owner
Signature
/s/ Dov Shiff
Stock symbol
SKYX
Transactions as of
Feb 14, 2022
Transactions value $
$3,299,968
Form type
4
Date filed
2/16/2022, 01:15 PM
Previous filing
Feb 9, 2022
Next filing
Mar 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Conversion of derivative security +2.6M +207.17% 3.86M Feb 14, 2022 Direct F3
transaction SKYX Common Stock, no par value Purchase $3.3M +236K $14.00* 236K Feb 14, 2022 By Shiff Group Assets F2
holding SKYX Common Stock, no par value 10.8M Feb 14, 2022 By Shiff Group F1
holding SKYX Common Stock, no par value 40K Feb 14, 2022 By Spouse

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 SKYX Series A Convertible Preferred Stock Conversion of derivative security -2.6M -100% 0 Feb 14, 2022 Common Stock, no par value 2.6M By Shiff Group F1, F3
holding SKYX Stock Option (right to buy) 25K Feb 14, 2022 Common Stock, no par value 25K $3.00 Direct
holding SKYX Stock Option (right to buy) 25K Feb 14, 2022 Common Stock, no par value 25K $3.00 Direct
holding SKYX Stock Option (right to buy) 25K Feb 14, 2022 Common Stock, no par value 25K $12.00 Direct
holding SKYX Stock Option (right to buy) 25K Feb 14, 2022 Common Stock, no par value 25K $12.00 Direct
holding SKYX Stock Option (right to buy) 25K Feb 14, 2022 Common Stock, no par value 25K $12.00 Direct
holding SKYX 6.0% Subordinated Convertible Promissory Note $600K Feb 14, 2022 Common Stock, no par value $600K $15.00 By Shiff Group F1, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These securities are owned by Shiff Group Investments Ltd., of which the reporting person is an owner and the President and Chief Executive Officer.
F2 The securities are owned by Shiff Group Assets Ltd., of which the reporting person is a controlling person.
F3 In connection with the consummation of the issuer's initial public offering, which closed on February 14, 2022, the reporting person elected to convert all shares of Series A Convertible Preferred Stock held into shares of common stock. The Series A Convertible Preferred Stock was convertible at any time, at the holder's election, on a one-for-one basis, and had no expiration date.
F4 The principal amount, plus any accrued and unpaid interest, is convertible at any time on or prior to the maturity date at the holder's discretion at the conversion price of $15.00.
F5 Represents the principal amount of the convertible note and excludes interest that may accrue. Interest on the note is payable annually, in cash or common stock, at the holder's discretion.