Leonard J. Sokolow - 12 Sep 2023 Form 4 Insider Report for SKYX Platforms Corp. (SKYX)

Role
Co-Chief Executive Officer, Director
Signature
/s/ Leonard J. Sokolow
Issuer symbol
SKYX
Transactions as of
12 Sep 2023
Net transactions value
-$84,645
Form type
4
Filing time
13 Sep 2023, 08:50:25 UTC
Previous filing
03 Jul 2023
Next filing
02 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Award $0 +450,000 +119% $0.000000 829,025 12 Sep 2023 Direct F6
transaction SKYX Common Stock, no par value Tax liability $84,645 -51,613 -6.2% $1.64 777,412 12 Sep 2023 Direct F7, F9, F10

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 SKYX Stock Option (right to buy) Award $0 +450,000 $0.000000 450,000 12 Sep 2023 Common Stock, no par value 450,000 $1.58 Direct F8
holding SKYX Stock Option (right to buy) 150,000 12 Sep 2023 Common Stock, no par value 150,000 $0.6000 Direct
holding SKYX Stock Option (right to buy) 150,000 12 Sep 2023 Common Stock, no par value 150,000 $3.00 Direct
holding SKYX Stock Option (right to buy) 150,000 12 Sep 2023 Common Stock, no par value 150,000 $4.00 Direct
holding SKYX Stock Option (right to buy) 100,000 12 Sep 2023 Common Stock, no par value 100,000 $3.00 Direct
holding SKYX Stock Option (right to buy) 100,000 12 Sep 2023 Common Stock, no par value 100,000 $12.00 Direct
holding SKYX Stock Option (right to buy) 100,000 12 Sep 2023 Common Stock, no par value 100,000 $12.00 Direct
holding SKYX Stock Option (right to buy) 100,000 12 Sep 2023 Common Stock, no par value 100,000 $12.00 Direct
holding SKYX Stock Option (right to buy) 17,500 12 Sep 2023 Common Stock, no par value 17,500 $12.34 Direct
holding SKYX Stock Option (right to buy) 17,500 12 Sep 2023 Common Stock, no par value 17,500 $3.28 Direct F5
holding SKYX Warrant (right to buy) 4,469 12 Sep 2023 Common Stock, no par value 4,469 $12.00 Direct F1
holding SKYX Warrant (right to buy) 1,088 12 Sep 2023 Common Stock, no par value 1,088 $9.80 Direct F2
holding SKYX Warrant (right to buy) 3,375 12 Sep 2023 Common Stock, no par value 3,375 $9.80 Direct F2
holding SKYX Warrant (right to buy) 19,827 12 Sep 2023 Common Stock, no par value 19,827 $9.80 Direct F2
holding SKYX 6.0% Subordinated Convertible Promissory Note $250,000 12 Sep 2023 Common Stock, no par value $250,000 $15.00 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Exercisable at any time on or prior to the expiration date at the holder's discretion at the initial exercise price of $12.00 per share, subject to adjustment provisions (including certain anti-dilution provisions).
F2 Exercisable at any time on or prior to the expiration date at the holder's discretion at the adjusted exercise price of $9.80 per share, subject to adjustment provisions (including certain anti-dilution provisions).
F3 The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at any time on or prior to the maturity date at the holder's discretion at the conversion price of $15.00 per share.
F4 Represents the principal amount of the convertible note and excludes interest that may accrue. Interest on the note is payable annually, in cash or common stock, at the holder's discretion.
F5 Options vest in twelve equal monthly installments, beginning on the last day of the month in which the options were granted.
F6 Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
F7 The reporting person has elected to satisfy his tax withholding obligation in connection with the vesting of RSUs by directing the issuer to withhold shares otherwise issuable upon vesting of the grant.
F8 Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
F9 Includes 20,167 restricted shares granted in consideration for services to be provided to the issuer pursuant to a corporate advisory agreement between the issuer and Newbridge Securities Corporation dated November 9, 2022. The restricted shares vest on the following schedule: one quarter of the shares on each of November 9, 2022 and the six-, 12- and 18-month anniversaries of such date. If the agreement is terminated prior to its expiration, any shares that have not vested as of such date will be forfeited.
F10 Includes 330,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: 300,000 vest in six semi-annual installments of 50,000 beginning on March 12, 2024 and 30,000 vest on March 12, 2027.