Leonard J. Sokolow - Mar 12, 2024 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
Mar 12, 2024
Transactions value $
-$28,576
Form type
4
Date filed
3/14/2024, 06:37 PM
Previous filing
Dec 14, 2023
Next filing
Apr 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Tax liability -$28.6K -22.3K -2.86% $1.28 759K Mar 12, 2024 Direct F6, F7, F8

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 Mar 12, 2024 Common Stock, no par value 150K $0.60 Direct
holding SKYX Stock Option (right to buy) 150K Mar 12, 2024 Common Stock, no par value 150K $3.00 Direct
holding SKYX Stock Option (right to buy) 150K Mar 12, 2024 Common Stock, no par value 150K $4.00 Direct
holding SKYX Stock Option (right to buy) 100K Mar 12, 2024 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 100K Mar 12, 2024 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 100K Mar 12, 2024 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 17.5K Mar 12, 2024 Common Stock, no par value 17.5K $12.34 Direct
holding SKYX Stock Option (right to buy) 17.5K Mar 12, 2024 Common Stock, no par value 17.5K $3.28 Direct F4
holding SKYX Stock Option (right to buy) 450K Mar 12, 2024 Common Stock, no par value 450K $1.58 Direct F5
holding SKYX Warrant (right to buy) 1.09K Mar 12, 2024 Common Stock, no par value 1.09K $9.80 Direct F1
holding SKYX Warrant (right to buy) 3.38K Mar 12, 2024 Common Stock, no par value 3.38K $9.80 Direct F1
holding SKYX Warrant (right to buy) 19.8K Mar 12, 2024 Common Stock, no par value 19.8K $9.80 Direct F1
holding SKYX 6.0% Subordinated Convertible Promissory Note $250K Mar 12, 2024 Common Stock, no par value $250K $15.00 Direct F2, F3
* 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 adjusted exercise price of $9.80 per share, subject to adjustment provisions (including certain anti-dilution provisions).
F2 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.
F3 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.
F4 Options vest in twelve equal monthly installments, beginning on the last day of the month in which the options were granted.
F5 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.
F6 Includes 10,084 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.
F7 Includes 280,000 restricted stock units ("RSUs"), which will vest as follows, subject to continued employment through the vesting date: 250,000 vest in five semi-annual installments of 50,000 beginning on September 12, 2024 and 30,000 vest on March 12, 2027.
F8 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.