Aaron Keay - 30 Sep 2021 Form 4 Insider Report for ALKALINE WATER Co INC (WTER)

Role: Director
Signature: /s/ Aaron Keay
Issuer symbol: WTER
Transactions as of: 30 Sep 2021
Net transactions value: +$1,250,000
Form type: 4
Filing time: 18 Nov 2021, 14:00:42 UTC
Previous filing: 06 Jul 2021
Next filing: 19 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WTER	Common Stock	Conversion of derivative security		+1,000,000			1,000,000	30 Sep 2021	Klutch Financial Corp.	F4
holding	WTER	Common Stock						200,000	30 Sep 2021	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	WTER	Subscription Receipts	Conversion of derivative security		-1,000,000	-100%		0	30 Sep 2021	Units	1,000,000	$1.05	Klutch Financial Corp.	F4
transaction	WTER	Warrants	Conversion of derivative security	$1,250,000	+1,000,000		$1.25	1,000,000	30 Sep 2021	Common	1,000,000	$1.25	Klutch Financial Corp.
holding	WTER	Stock Options						350,000	30 Sep 2021	Common	350,000	$1.29	Direct	F1
holding	WTER	Stock Options						600,000	30 Sep 2021	Common	250,000	$0.5300	Direct	F2
holding	WTER	Stock Options						850,000	30 Sep 2021	Common	250,000	$1.09	Direct	F3
holding	WTER	Subscription Receipts						1,000,000	30 Sep 2021	Units	1,000,000	$1.05	Klutch Financial Corp.	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	(1) 1/4 of the options will vest on April 28, 2017 (the "Date of Grant"); on each anniversary date of the Date of Grant, additional 1/4 of the options will vest; provided, however, the options will stop vesting in the event that the Reporting Person's continuous service terminates (other than upon the Reporting Person's death or disability) while the options will continue vesting in the event that the Reporting Person's continuous service terminates as a result of the Reporting Person's death or disability.
F2	50% vest on April 3, 2020 and 50% vest on April 3, 2021.
F3	50% vest on March 31, 2021 and 50% vest on March 31, 2022.
F4	Each Subscription Receipt was automatically converted on September 30, 2021 into units of The Alkaline Water Company Inc., with each unit consisting of one common share and one common share purchase warrant, with each share purchase warrant entitling the holder to acquire one common share at $1.25 per share for a period ending on July 6, 2024.