David Allen May - 18 Aug 2023 Form 4 Insider Report for SurgePays, Inc. (SURG)

Role: Director
Signature: /s/ David A. May
Issuer symbol: SURG
Transactions as of: 18 Aug 2023
Net transactions value: $0
Form type: 4
Filing time: 22 Aug 2023, 16:15:45 UTC
Previous filing: 27 Apr 2022
Next filing: 10 Jun 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SURG	Common Stock (Restricted Share Award)	Award	$0	+15,000		$0.000000	15,000	18 Aug 2023	Direct	F1

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

Explanation of Responses:

Id	Content
F1	These shares were issued to Mr. May pursuant to the provisions of the SurgePays, Inc. 2022 Omnibus Securities and Incentive Plan (the "2022 Plan") and a Restricted Share Award Agreement (the "RSA Agreement"), dated August 18, 2023, by and between SurgePays, Inc. (the "Company") and Mr. May. The RSA Agreement provides that the shares will become fully vested upon the earliest to occur of (a) the director no longer serves as a director of the Company for any reason (including, but not limited to, upon death or disability that renders the director incapable of providing services to the Company) other than a Termination of Service for Cause (as defined in the RSA Agreement), (b) upon the occurrence of a Change in Control (as defined in the 2022 Plan), or (c) the fifth anniversary of the award date.

Content

These shares were issued to Mr. May pursuant to the provisions of the SurgePays, Inc. 2022 Omnibus Securities and Incentive Plan (the "2022 Plan") and a Restricted Share Award Agreement (the "RSA Agreement"), dated August 18, 2023, by and between SurgePays, Inc. (the "Company") and Mr. May. The RSA Agreement provides that the shares will become fully vested upon the earliest to occur of (a) the director no longer serves as a director of the Company for any reason (including, but not limited to, upon death or disability that renders the director incapable of providing services to the Company) other than a Termination of Service for Cause (as defined in the RSA Agreement), (b) upon the occurrence of a Change in Control (as defined in the 2022 Plan), or (c) the fifth anniversary of the award date.