Vincent J. Dowling Jr - Aug 18, 2022 Form 4 Insider Report for TEL INSTRUMENT ELECTRONICS CORP (TIKK)

Role: 10%+ Owner
Signature: /s/ Vincent J. Dowling, Jr.
Stock symbol: TIKK
Transactions as of: Aug 18, 2022
Transactions value $: $20,396
Form type: 4
Date filed: 8/22/2022, 03:30 PM
Previous filing: Sep 16, 2021
Next filing: Aug 29, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TIKK	Common Stock, par value $0.10 per share	Purchase	$20.2K	+9.9K	+2.82%	$2.04	361K	Aug 18, 2022	See footnote	F1
transaction	TIKK	Common Stock, par value $0.10 per share	Purchase	$200	+100	+0.03%	$2.00	361K	Aug 18, 2022	See footnote	F1

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	TIKK	Series A Convertible Preferred Stock	Purchase		+333K			333K	Nov 13, 2017	Common Stock	1M		See footnote	F2, F3

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

Explanation of Responses:

Id	Content
F1	148,134 shares of common stock are held by IRA FBO Vincent J. Dowling, Jr. Pershing LLC as Custodian Roth Conversion Account. Mr. Dowling has sole beneficial ownership of such shares. 200,000 shares are held by Millennium Trust Company, LLC Custodian FBO Vincent J. Dowling, Jr., Roth IRA. Mr. Dowling has sole beneficial ownership of such shares. 3,336 shares of common stock are held in IRA accounts for the benefit of Vincent J. Dowling Jr.'s daughter (1,112 shares) and two sons (1,112 shares each), and for which Mr. Dowling exercises control. 10,000 shares of common stock are held directly by Mr. Dowling.
F2	The Series A Convertible Preferred Stock has the rights, privileges, preferences and restrictions set for in the Certificate of Amendment to Certificate of Incorporation filed by the Issuer with the Secretary of State of the State of New Jersey on November 8, 2017 (the "Designations"). Subject to the notice and other requirements set forth in the Designations, the Series A Convertible Preferred Stock is convertible at any time, at the holder's election, and there is no expiration date for such conversion. The Designations provide that the Series A Convertible Preferred Stock is convertible into shares of common stock at a price of $3.00 per share, subject to a maximum conversion amount and certain adjustments as set forth in the Designations.
F3	The shares of Series A Convertible Preferred Stock are held by Millennium Trust Company, LLC Custodian FBO Vincent J. Dowling, Jr., Roth IRA. Mr. Dowling has sole beneficial ownership of such shares.