Steven Mark Schmidt - Sep 15, 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
Sep 15, 2024
Transactions value $
$0
Form type
4
Date filed
12/17/2024, 04:34 PM
Previous filing
Oct 4, 2024
Next filing
Oct 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKYX Common Stock, no par value Award $0 +250K +144.54% $0.00 423K Sep 15, 2024 Direct F1
transaction SKYX Common Stock, no par value Award $0 +100K +23.64% $0.00 523K Dec 15, 2024 Direct F2, F7

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 +250K $0.00 250K Sep 15, 2024 Common Stock, no par value 250K $0.90 Direct F3
transaction SKYX Stock Option (right to buy) Award $0 +100K $0.00 100K Dec 15, 2024 Common Stock, no par value 100K $1.09 Direct F4
holding SKYX Stock Option (right to buy) 100K Sep 15, 2024 Common Stock, no par value 100K $12.00 Direct F5
holding SKYX Series A-1 Preferred Stock 20K Sep 15, 2024 Common Stock, no par value 250K Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 as follows, subject to continued employment through the vesting date: 10,000 vest on December 20, 2024, and the remaining 240,000 vest in equal quarterly installments of 20,000 beginning December 31, 2024.
F2 Represents a grant of RSUs. Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest in two equal annual installments beginning on January 1, 2025, subject to continued employment through the vesting date.
F3 These options vest as follows, subject to continued employment through the vesting date: 10,000 vest on December 20, 2024, and the remaining 240,000 vest in equal quarterly installments of 20,000 beginning December 31, 2024.
F4 These options vest in two equal annual installments, beginning on January 1, 2025, subject to continued employment through the vesting date.
F5 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.
F6 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.
F7 Includes 350,000 RSUs, which vest as follows, subject to continued employment through the vesting date: (i) 10,000 vest on December 20, 2024; (ii) 240,000 vest in equal quarterly installments of 20,000 beginning December 31, 2024, and (ii) 100,000 vest in two equal installments on each of January 1, 2025 and 2026.