Edward Pershing - Feb 27, 2023 Form 4 Insider Report for PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT)

Role
Director
Signature
/s/ Edward Pershing
Stock symbol
PVCT
Transactions as of
Feb 27, 2023
Transactions value $
$225,000
Form type
4
Date filed
3/21/2023, 10:25 AM
Previous filing
Feb 22, 2023
Next filing
Apr 10, 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 PVCT 8% Unsecured Convertible Promissory Note Award $100K $1.15M Feb 27, 2023 Series D-1 Convertible Preferred Stock 34.9K $2.86 Direct F1, F2
transaction PVCT 8% Unsecured Convertible Promissory Note Award $125K $1.28M Mar 17, 2023 Series D-1 Convertible Preferred Stock 43.7K $2.86 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person may voluntarily elect to convert the outstanding principal and interest of the 8% unsecured convertible promissory note (the "Note") at any time while the Note is outstanding into shares of Series D-1 Convertible Preferred Stock, par value $0.001 per share ("Series D-1 Preferred Stock") at a price per share equal to $2.862. The outstanding principal and interest of the Note will automatically convert into shares of Series D-1 Preferred Stock at a price per share equal to $2.862 on the date which is twelve months after the issue date of the Note. The Note was issued pursuant to the Issuer's 2022 Financing.
F2 Each share of Series D-1 Preferred Stock is convertible into 10 shares of the Issuer's common stock, par value $0.001 per share ("Common Stock"). The Series D-1 Preferred Stock will automatically convert into Common Stock on June 20, 2026, unless earlier converted into Common Stock in accordance with the terms of the Certificate of Designation for the Series D-1 Preferred Stock.