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

Role: Director
Signature: /s/ Charles Benton
Issuer symbol: TLSS
Transactions as of: 11 Mar 2022
Net transactions value: +$20,000
Form type: 4
Filing time: 02 Jun 2022, 15:40:50 UTC
Previous filing: 31 Jan 2022
Next filing: 20 Sep 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TLSS	Common Stock	Award	$20,000	+1,818,182		$0.0110	1,818,182	11 Mar 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.

Content

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.