Paolo Tiramani - Nov 10, 2023 Form 4 Insider Report for Boxabl Inc. (BOX)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Galiano Paolo Tiramani
Stock symbol
BOX
Transactions as of
Nov 10, 2023
Transactions value $
$0
Form type
4
Date filed
11/14/2023, 05:10 PM
Previous filing
Oct 10, 2023

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 BOX Series A-2 Preferred Stock, par value $0.00001 Gift $0 +37.5M $0.00 37.5M Nov 10, 2023 Common Stock, par value $0.00001 37.5M By Dechomai Asset Trust F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A-2 Preferred Stock automatically converts into the Company's Common Stock on a one-for-one basis upon the closing of the sale of the Company's Common Stock to the public in a firm commitment underwritten public offering that meets certain criteria or an offering of the Company's Common Stock in reliance on Regulation A of the Securities Act of 1933, as amended.
F2 Shares were gifted to Dechomai Asset Trust without consideration. The price per share of the Company's Series A-2 Preferred stock based on the valuation of the merger transaction between the Company and Build IP, an affiliate entity owned by Mr. Tiramani prior to the merger, was valued at $30,000,000 or $0.80 per share.
F3 Shares of Series A-2 Preferred Stock owned directly by Dechomai Asset Trust. The reporting person is deemed to have voting and investment power of the shares held by Dechomai Asset Trust.