Steven Mark Schmidt - Oct 4, 2024 Form 4 Insider Report for SKYX Platforms Corp. (SKYX)

Role
President
Signature
/s/ Marc-Andre Boisseau for Steven Mark Schmidt by Power of Attorney
Stock symbol
SKYX
Transactions as of
Oct 4, 2024
Transactions value $
$500,000
Form type
4
Date filed
10/7/2024, 09:28 AM
Previous filing
Oct 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SKYX Common Stock, no par value 173K Oct 4, 2024 Direct

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 Series A-1 Preferred Stock Purchase $500K +20K $25.00 20K Oct 4, 2024 Common Stock, no par value 250K Direct F1
holding SKYX Stock Option (right to buy) 100K Oct 4, 2024 Common Stock, no par value 100K $12.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share and is convertible at any time, at the holder's option, into shares of the issuer's common stock at an initial conversion price of $2.00 per share (or 12.5 shares of common stock for each share of Preferred Stock), subject to adjustment provisions (including certain anti-dilution provisions) and a minimum conversion price of $1.20 per share. Until October 4, 2026, the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. In addition, the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027. The Preferred Stock has no expiration date.
F2 These options were granted on June 1, 2021 and vested in four equal annual installments of 25,000 shares beginning on the date of grant.