Rory J. Cutaia - 17 Nov 2022 Form 4 Insider Report for Verb Technology Company, Inc. (VERB)

Role
CEO & President, Director
Signature
/s/ Rory J. Cutaia
Issuer symbol
VERB
Transactions as of
17 Nov 2022
Net transactions value
$0
Form type
4
Filing time
21 Nov 2022, 19:50:44 UTC
Previous filing
20 May 2022
Next filing
23 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VERB Common Stock Disposed to Issuer $0 -117,924 -1.9% $0.000000 6,194,821 17 Nov 2022 Direct F1
transaction VERB Common Stock Award $0 +371,208 +6% $0.000000 6,566,029 17 Nov 2022 Direct F2

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 VERB Stock Option (Right to Buy) Award $0 +235,848 +708% $0.000000 269,181 17 Nov 2022 Common Stock 235,848 $0.2200 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the Reporting Person's voluntary forfeiture of shares of the Issuer's common stock, par value $0.0001 per share (the "Shares"). The forfeited Shares were issued on July 29, 2022 upon the vesting and settlement in full of an aggregate of 117,924 restricted stock unit awards issued on July 29, 2020 pursuant to the terms of the Issuer's 2019 Omnibus Incentive Plan (the "2019 Plan"). The forfeited Shares were returned to the Issuer's treasury stock.
F2 The restricted stock unit awards were granted as consideration for the Reporting Person's agreement to accept a 25% reduction in cash compensation for a period of four months. The restricted stock unit awards were granted pursuant to the 2019 Plan and vest in equal installments on the last day of each month over the four-month period, commencing on December 31, 2022.
F3 In exchange for the forfeiture of the shares referenced in Note 1 above, on November 17, 2022, the board of directors of the Issuer granted the Reporting Person stock options to purchase 235,848 Shares. The stock options fully vested upon issuance.