Charles M. Fernandez - Sep 13, 2022 Form 4 Insider Report for Progressive Care Inc. (RXMD)

Role: Director
Signature: /s/Charles M. Fernandez
Stock symbol: RXMD
Transactions as of: Sep 13, 2022
Transactions value $: $0
Form type: 4
Date filed: 10/18/2022, 10:45 AM
Previous filing: Sep 19, 2022
Next filing: Dec 20, 2022

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	+31.4M	+4.59%	$0.00	716M	Sep 13, 2022	Common Stock	31.4M	$0.02	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 12,576,222 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 Chairman and Chief Executive Officer of NextPlat Corp, Mr. Fernandez has voting or investment control over these securities. For the avoidance of doubt, Mr. Fernandez expressly disclaims ownership of the Issuer's securities owned by NextPlat.

Content

Options to purchase up to 12,576,222 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 Chairman and Chief Executive Officer of NextPlat Corp, Mr. Fernandez has voting or investment control over these securities. For the avoidance of doubt, Mr. Fernandez expressly disclaims ownership of the Issuer's securities owned by NextPlat.