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

Signature
/s/ SEBASTIAN GIORDANO
Stock symbol
TLSS
Transactions as of
Mar 11, 2022
Transactions value $
$1,343,391
Form type
4
Date filed
6/2/2022, 03:43 PM
Previous filing
Feb 3, 2022
Next filing
Nov 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TLSS Common Stock Award $1.34M +122M $0.01 122M Mar 11, 2022 Direct F1

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 TLSS Warrant Award $0 +1 +0% $0.00 25M Feb 21, 2020 Common Stock 25M $0.06 See Footnote F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 3/11/22, pursuant to an employment agreement dated 1/4/22, the Company granted the Reporting Person 122,126,433 shares of Company common stock which were valued at $1,343,391, or $0.011 per common share, based on the quoted closing price of the Company's common stock on the measurement date. These shares vest in four (4) equal annual installments with the first installment of 30,531,608 shares vesting on 1/3/22, and 30,531,608 additional shares vesting on January 3rd of each subsequent year through 1/3/25.
F2 In 2020, the Company retained the services of a consultant, Ascentaur, LLC ("Ascentaur"), pursuant to a Consulting Agreement between the Company and Ascentaur dated 2/21/20, as amended (the "Consulting Agreement"). Under the Consulting Agreement, the Reporting Person, who is the CEO and principal of Ascentaur, provided management services to the Company. Pursuant to the Consulting Agreement, in 2020, Ascentaur received a warrant to purchase up to 25,000,000 shares of common stock of the Company exercisable at $0.06 per share, in whole or in part, at any time between 6/16/2020 and 6/16/2025.