Leonard J. Sokolow - Sep 30, 2023 Form 4 Insider Report for SKYX Platforms Corp. (SKYX)

Role
Co-Chief Executive Officer, Director
Signature
/s/ Leonard J. Sokolow
Stock symbol
SKYX
Transactions as of
Sep 30, 2023
Transactions value $
$5,869
Form type
4
Date filed
10/2/2023, 04:15 PM
Previous filing
Sep 13, 2023
Next filing
Nov 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Award $5.87K +4.13K +0.53% $1.42 782K Sep 30, 2023 Direct F7, F8, F9

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
holding SKYX Stock Option (right to buy) 150K Sep 30, 2023 Common Stock, no par value 150K $0.60 Direct
holding SKYX Stock Option (right to buy) 150K Sep 30, 2023 Common Stock, no par value 150K $3.00 Direct
holding SKYX Stock Option (right to buy) 150K Sep 30, 2023 Common Stock, no par value 150K $4.00 Direct
holding SKYX Stock Option (right to buy) 100K Sep 30, 2023 Common Stock, no par value 100K $3.00 Direct
holding SKYX Stock Option (right to buy) 100K Sep 30, 2023 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 100K Sep 30, 2023 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 100K Sep 30, 2023 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 17.5K Sep 30, 2023 Common Stock, no par value 17.5K $12.34 Direct
holding SKYX Stock Option (right to buy) 17.5K Sep 30, 2023 Common Stock, no par value 17.5K $3.28 Direct F5
holding SKYX Stock Option (right to buy) 450K Sep 30, 2023 Common Stock, no par value 450K $1.58 Direct F6
holding SKYX Warrant (right to buy) 4.47K Sep 30, 2023 Common Stock, no par value 4.47K $12.00 Direct F1
holding SKYX Warrant (right to buy) 1.09K Sep 30, 2023 Common Stock, no par value 1.09K $9.80 Direct F2
holding SKYX Warrant (right to buy) 3.38K Sep 30, 2023 Common Stock, no par value 3.38K $9.80 Direct F2
holding SKYX Warrant (right to buy) 19.8K Sep 30, 2023 Common Stock, no par value 19.8K $9.80 Direct F2
holding SKYX 6.0% Subordinated Convertible Promissory Note $250K Sep 30, 2023 Common Stock, no par value $250K $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 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.
F7 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.
F8 Includes 330,000 restricted stock units, 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.
F9 The reporting person previously elected to receive shares of the issuer's common stock in lieu of the cash retainer payable for service on the issuer's board of directors, pursuant to the non-employee director compensation program. The reporting person received a prorated number of shares representing compensation as a non-employee director prior to his appointment as Co-Chief Executive Officer of the issuer.