Debra L. Smith - 31 Dec 2021 Form 4 Insider Report for CERBERUS CYBER SENTINEL CORP (CISO)

Role
Chief Financial Officer
Signature
/s/ Debra L. Smith
Issuer symbol
CISO
Transactions as of
31 Dec 2021
Net transactions value
$0
Form type
4
Filing time
30 Mar 2023, 16:10:28 UTC
Previous filing
30 Mar 2023
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 CISO Stock Option (Right to Buy) Award $0 +5,000 $0.000000 5,000 31 Dec 2021 Common Stock, par value $0.00001 5,000 $5.00 Direct F1
transaction CISO Stock Option (Right to Buy) Award $0 +500,000 $0.000000 500,000 14 Jan 2022 Common Stock, par value $0.00001 500,000 $2.00 Direct F2
transaction CISO Stock Option (Right to Buy) Disposed to Issuer -500,000 -50% 500,000 22 Aug 2022 Common Stock, par value $0.00001 500,000 $2.00 Direct F2, F3
transaction CISO Stock Option (Right to Buy) Award +500,000 500,000 22 Aug 2022 Common Stock, par value $0.00001 500,000 $3.02 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 31, 2021, the Reporting Person was granted stock options exercisable for 5,000 shares of common stock (the "2021 Options"). The 2021 Options will vest with respect to 25% of the underlying shares on December 31, 2022, and thereafter at a rate of 1/36 per month.
F2 On January 14, 2022, the Reporting Person was granted stock options exercisable for 500,000 shares of common stock (the "2022 Options"). The 2022 Options will vest with respect to 30% of the underlying shares on January 31, 2023, and thereafter at a rate of 1/24 per month.
F3 The transactions reported herein reflect a repricing of the 2022 Options effective on August 22, 2022, resulting in the cancellation of the 2022 Options and the grant of replacement options. The exercise price of the 2022 Options was increased from $2.00 to $3.02 per share. All of the other terms of the 2022 Options remain the same, including without limitation, the number of shares underlying the 2022 Options, the vesting period of the 2022 Options, and the expiration date of the 2022 Options.