Rodney Barreto - 13 Sep 2022 Form 4 Insider Report for Progressive Care Inc.

Role: Director
Signature: /s/Rodney Barreto
Issuer symbol: N/A
Transactions as of: 13 Sep 2022
Net transactions value: $0
Form type: 4
Filing time: 18 Oct 2022, 10:42:49 UTC
Previous filing: 19 Sep 2022
Next filing: 20 Dec 2022
SEC: View on sec.gov

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	RXMD	Stock Options	Award	$0	+25,152,444	+3.7%	$0.000000	710,092,442	13 Sep 2022	Common Stock	25,152,444	$0.0220	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Options to purchase up to 6,288,111 Common Shares are fully vested upon Grant Date; Options to purchase up to an additional 6,288,111 Common Shares become vested upon the first Trading Day following the date on which the Company's market capitalization is $50 million or more for five consecutive Trading Days; options to purchase up to an additional 6,288,111 Common Shares become fully vested on the first Trading Day following the date on which the Company's market capitalization is $100 million or more for five consecutive Trading Days; and options to purchase up to an additional 6,288,111 Common Shares become fully vested on the first Trading Day following the date on which the Company's market capitalization is $200 million or more for five consecutive Trading Days.
F2	Includes 660,671,427 derivative securities owned by NextPlat Corp. As a Director of NextPlat Corp, Mr. Barreto has voting or investment control over these securities. For the avoidance of doubt, Mr. Barreto expressly disclaims ownership of the Issuer's securities owned by NextPlat.

Content

Options to purchase up to 6,288,111 Common Shares are fully vested upon Grant Date; Options to purchase up to an additional 6,288,111 Common Shares become vested upon the first Trading Day following the date on which the Company's market capitalization is $50 million or more for five consecutive Trading Days; options to purchase up to an additional 6,288,111 Common Shares become fully vested on the first Trading Day following the date on which the Company's market capitalization is $100 million or more for five consecutive Trading Days; and options to purchase up to an additional 6,288,111 Common Shares become fully vested on the first Trading Day following the date on which the Company's market capitalization is $200 million or more for five consecutive Trading Days.

Includes 660,671,427 derivative securities owned by NextPlat Corp. As a Director of NextPlat Corp, Mr. Barreto has voting or investment control over these securities. For the avoidance of doubt, Mr. Barreto expressly disclaims ownership of the Issuer's securities owned by NextPlat.