Cecile Munnik - Nov 14, 2022 Form 4 Insider Report for Progressive Care Inc. (RXMD)

Role
Chief Financial Officer
Signature
/s/ Cecile Munnik
Stock symbol
RXMD
Transactions as of
Nov 14, 2022
Transactions value $
$0
Form type
4
Date filed
11/16/2022, 03:41 PM
Previous filing
Jan 6, 2022
Next filing
Jun 9, 2023

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 Option Award +5M 5M Nov 14, 2022 Common Stock 5M Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The options vested immediately but have not been exercised pursuant to the Stock Option Award Agreement.
F2 The price per share of the Shares subject to the Option shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant. Notwithstanding the foregoing, if this Option is designated as an Incentive Stock Option and the Reporting Person is a Ten Percent Holder as of the Date of Grant, the exercise price per share of the Shares subject to the Option shall not be less than 110% of the Fair Market Value of a Share on the Date of Grant.
F3 The Option shall commence on Grant Date and terminate on the date of first to occur of: (1) If Option is designated as an Incentive Stock Option and Reporting Person, at time Option was granted, was a 10% Holder, the expiration of (5) years from Date of Grant; (2) 10th anniversary of Date of Grant; (3) (1) year following Reporting Person's termination of Continuous Service Status with Issuer and its Affiliates as a result of termination of service of Reporting Person by Issuer or any of its Affiliates on account of death or Disability; (4) (30) days following Reporting Person's termination of service of a Participant with Issuer and its Affiliates as a result of termination of service of a Participant by Reporting Person other than for Cause; and (5) Close of business on last business day immediately prior to date of Reporting Person's termination of service by Issuer for Cause or for any reason other than as set forth above.
F4 This number does not represent the 1,000,000 shares of the Company's common stock, or non-derivative securities, held by Cecile Munnik as of the date of this Form 4.