Ran Roland Kohen - Jun 9, 2022 Form 4 Insider Report for SQL Technologies Corp. (SKYX)

Role
Executive Chairman, Director, 10%+ Owner
Signature
/s/ Ran Roland Kohen
Stock symbol
SKYX
Transactions as of
Jun 9, 2022
Transactions value $
$12,795
Form type
4
Date filed
6/13/2022, 06:08 AM
Previous filing
Jun 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Purchase $10.7K +5K +50% $2.15 15K Jun 9, 2022 Direct F8
transaction SKYX Common Stock, no par value Purchase $2.05K +1K +6.67% $2.05 16K Jun 10, 2022 Direct
holding SKYX Common Stock, no par value 9.14M Jun 9, 2022 By KRNB Holdings LLC F1
holding SKYX Common Stock, no par value 100K Jun 9, 2022 By Family

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
holding SKYX Stock Option (right to buy) 1M Jun 9, 2022 Common Stock, no par value 1M $0.60 Direct
holding SKYX Stock Option (right to buy) 1.14M Jun 9, 2022 Common Stock, no par value 1.14M $6.00 Direct F2
holding SKYX Stock Option (right to buy) 1.14M Jun 9, 2022 Common Stock, no par value 1.14M $12.00 Direct F3
holding SKYX Stock Option (right to buy) 1.5M Jun 9, 2022 Common Stock, no par value 1.5M $3.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 1.5M Jun 9, 2022 Common Stock, no par value 1.5M $4.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 1M Jun 9, 2022 Common Stock, no par value 1M $5.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 2M Jun 9, 2022 Common Stock, no par value 2M $6.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 2M Jun 9, 2022 Common Stock, no par value 2M $7.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 2M Jun 9, 2022 Common Stock, no par value 2M $8.00 Direct F4, F5, F6
holding SKYX Stock Option (right to buy) 10M Jun 9, 2022 Common Stock, no par value 10M $12.00 Direct F7
* 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 KRNB Holdings LLC, of which the reporting person is the sole owner and the manager.
F2 These options were granted on September 1, 2019 and vest as to 120,000 shares on January 1, 2020, with the remainder vesting in three equal annual installments of 340,000 shares beginning on the first anniversary of the date of grant, subject to continued service through the applicable vesting date.
F3 These options were granted on January 1, 2022 and vest as to 120,000 shares on January 1, 2023, with the remainder vesting in three equal annual installments of 340,000 shares beginning on the first anniversary of the date of grant, subject to continued service through the applicable vesting date.
F4 Pursuant to the chairman agreement, the reporting person was granted the following supplemental bonus options as it was determined that the applicable performance conditions had been satisfied: (i) options to purchase 1,500,000 shares of common stock at an exercise price of $3.00 per share; (ii) options to purchase 500,000 shares of common stock at an exercise price of $4.00 per share; and (iii) options to purchase 1,000,000 shares of common stock at an exercise price of $6.00 per share. These options were immediately exercisable and expire November 21, 2024.
F5 Pursuant to the chairman agreement, the reporting person has the following options as supplemental bonus compensation, subject to the issuer achieving the specified market capitalization: (i) options to purchase 500,000 shares of common stock at $4.00 per share, upon the issuer achieving each of the following market capitalizations: $1.5 billion and $2.0 billion; (ii) options to purchase 500,000 shares of common stock at $5.00 per share, upon the issuer achieving each of the following market capitalizations: $2.5 billion and $3.0 billion; (iii) options to purchase 500,000 shares of common stock at an exercise price of $6.00 per share, upon the issuer achieving each of the following market capitalizations: $1.5 billion and $2.0 billion;
F6 (continued) (iv) options to purchase 500,000 shares of common stock at an exercise price of $7.00 per share, upon the issuer achieving each of the following market capitalizations: $3.0 billion, $4.0 billion, $5.0 billion and $6.0 billion; and (v) options to purchase 500,000 shares of common stock at an exercise price of $8.00 per share, upon the issuer achieving each of the following market capitalizations: $7.0 billion, $8.0 billion, $9.0 billion and $10.0 billion. Options are subject to continued service through the applicable vesting date.
F7 Pursuant to the chairman agreement, in the event the issuer achieves a $10.0 billion valuation, for each valuation increase of $1.0 billion up to $30.0 billion, the reporting person has options to purchase 500,000 shares at an exercise price of $12.00 per share. Options are subject to continued service through the applicable vesting date.
F8 The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.08 and $2.24 per share. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.