Charles Benton - Mar 11, 2022 Form 4 Insider Report for Transportation & Logistics Systems, Inc. (TLSS)

Role
Director
Signature
/s/ Charles Benton
Stock symbol
TLSS
Transactions as of
Mar 11, 2022
Transactions value $
$20,000
Form type
4
Date filed
6/2/2022, 03:40 PM
Previous filing
Jan 31, 2022
Next filing
Sep 20, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TLSS Common Stock Award $20K +1.82M $0.01 1.82M Mar 11, 2022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 3/11/22, the Company made restricted stock awards, in equal amounts, to the three (3) independent members of the Company's board of directors (i.e., Messrs. Mercadante, Newton, and Benton), covering an aggregate of 5,454,546 shares of Common Stock, at $0.011 per common share, based on the quoted closing price of the Common Stock on the measurement date. These shares vest in equal four (4) quarterly installments with the first installment of 1,363,636.50 shares vesting on 3/31/22, and 1,363,636.50 shares vesting each subsequent quarter through 12/31/22.