Rory J. Cutaia - May 19, 2022 Form 4 Insider Report for Verb Technology Company, Inc. (VERB)

Signature
/s/ Rory J. Cutaia
Stock symbol
VERB
Transactions as of
May 19, 2022
Transactions value $
$100,000
Form type
4
Date filed
5/20/2022, 09:22 AM
Previous filing
Jan 24, 2022
Next filing
Nov 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VERB Common Stock Award $100K +189K +3.09% $0.53 6.31M May 19, 2022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As disclosed in the Issuer's filings with the SEC, the Reporting Person (Rory J. Cutaia, the Issuer's CEO) has historically elected to defer payment of up to half of his annual cash compensation. As of December 31, 2021, the sum of $1,030,944, remains accrued and unpaid to Reporting Person. On May 19, 2022, the Board of Directors approved the Reporting Person's request to convert $100,000 of such accrued amount in order to purchase shares of the Issuer's common stock, thereby reducing the amount of debt on the Issuer's balance sheet. Using the closing price of the Issuer's common stock on May 19, 2022, which was $0.528, 189,394 shares were purchased by Reporting Person.