James F. Dullinger - May 21, 2021 Form 4 Insider Report for IOTA COMMUNICATIONS, INC. (IOTC)

Role: Chief Financial Officer
Signature: /s/ James Dullinger
Stock symbol: IOTC
Transactions as of: May 21, 2021
Transactions value $: $48,980
Form type: 4
Date filed: 5/24/2021, 05:06 PM
Next filing: Jan 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IOTC	Common Stock	Options Exercise	$49K	+408K		$0.12^*	408K	May 21, 2021	Direct	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	IOTC	Stock Options (right to buy)	Options Exercise	$0	-800K	-40%	$0.00	1.2M	May 21, 2021	Common Stock		$0.12	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On May 21, 2021, the Reporting Person exercised, via a cashless exercise, stock options to acquire 800,000 shares of common stock of the issuer, at the exercise price of $0.12 per share. In connection with the cashless exercise of these stock options, the issuer withheld options to acquire 391,837 shares of common stock of the issuer to satisfy the exercise price and issued to the Reporting Person the remaining 408,163 shares of common stock.
F2	The options to purchase an aggregate of 2,000,000 shares of common stock of the issuer were granted to the Reporting Person on December 9, 2019. Pursuant to the Stock Option Modification Agreement between the issuer and the Reporting Person, these options became fully vested on December 8, 2020, with 50% of the stock options exercisable at the exercise price of $0.12 per share; 25% of the stock options exercisable at the exercise price of $0.25 per share; and the remaining 25% of the stock options exercisable at the exercise price of $0.35 per share.

Content

On May 21, 2021, the Reporting Person exercised, via a cashless exercise, stock options to acquire 800,000 shares of common stock of the issuer, at the exercise price of $0.12 per share. In connection with the cashless exercise of these stock options, the issuer withheld options to acquire 391,837 shares of common stock of the issuer to satisfy the exercise price and issued to the Reporting Person the remaining 408,163 shares of common stock.

The options to purchase an aggregate of 2,000,000 shares of common stock of the issuer were granted to the Reporting Person on December 9, 2019. Pursuant to the Stock Option Modification Agreement between the issuer and the Reporting Person, these options became fully vested on December 8, 2020, with 50% of the stock options exercisable at the exercise price of $0.12 per share; 25% of the stock options exercisable at the exercise price of $0.25 per share; and the remaining 25% of the stock options exercisable at the exercise price of $0.35 per share.