Wayne R. Walker - 23 May 2023 Form 4 Insider Report for AMMO, INC. (POWW)

Role: Director
Signature: /s/ Wayne R. Walker
Issuer symbol: POWW
Transactions as of: 23 May 2023
Net transactions value: $0
Form type: 4
Filing time: 25 May 2023, 16:15:38 UTC
Previous filing: 05 May 2023
Next filing: 10 Jul 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	POWW	Common Stock	Award	$0	+6,413	+64%	$0.000000	16,413	23 May 2023	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the grant of 6,413 shares of common stock to the reporting person for the November 3, 2022 to December 31, 2022 period of time that the reporting person served on the issuer's Board of Directors (the "Board"). On May 16, 2023, the Board modified the issuer's Director Compensation Policy upon the recommendation from the Board's Compensation Committee to allow for pro-rata issuances of stock to members of the Board for serving as a Board member for a portion of a quarter. The pro rata grant, however, is not issued to new members of the Board until after the completion of the new member's first complete quarter of service. The reporting person completed their first complete quarter of service on the Board on March 31, 2023.

Content

Reflects the grant of 6,413 shares of common stock to the reporting person for the November 3, 2022 to December 31, 2022 period of time that the reporting person served on the issuer's Board of Directors (the "Board"). On May 16, 2023, the Board modified the issuer's Director Compensation Policy upon the recommendation from the Board's Compensation Committee to allow for pro-rata issuances of stock to members of the Board for serving as a Board member for a portion of a quarter. The pro rata grant, however, is not issued to new members of the Board until after the completion of the new member's first complete quarter of service. The reporting person completed their first complete quarter of service on the Board on March 31, 2023.