Craig Harper-Denson - Dec 16, 2022 Form 4 Insider Report for Charge Enterprises, Inc. (CRGE)

Signature
/s/ JAMIE YUNG, Attorney-in-Fact
Stock symbol
CRGE
Transactions as of
Dec 16, 2022
Transactions value $
-$179,124
Form type
4
Date filed
2/15/2023, 03:05 PM
Previous filing
Nov 28, 2022
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRGE Common Stock, par value $0.0001 Options Exercise $70.9K +129K $0.55 129K Dec 22, 2022 By spouse
transaction CRGE Common Stock, par value $0.0001 Gift $0 -129K -50% $0.00 129K Dec 22, 2022 By spouse F2
transaction CRGE Common Stock, par value $0.0001 Gift $0 +129K $0.00 129K Dec 22, 2022 Direct F2
transaction CRGE Common Stock, par value $0.0001 Sale -$250K -129K -100% $1.94 0 Feb 13, 2023 Direct F2

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 CRGE Options, right to buy Options Exercise $0 -129K -1.34% $0.00 9.5M Dec 16, 2022 Common Stock 129K $0.55 By spouse F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The options were exercised by virtue of the Contract to Sell (obligation to sell) executed on August 29, 2022 between the Reporting Person and an unaffiliated third party buyer, which was reported on the Form 4 filed by the Reporting Person on August 31, 2022. The terms of the Contract to Sell determine the timing and pricing of each of the four transactions transferring Common Stock from Reporting Person to the buyer, and neither the Reporting Person nor the buyer has any control over such timing or pricing. The information in this Form 4 is being filed to disclose the number of shares of Common Stock transferred in connection with the December 15, 2022 transfer.
F2 The sale price reported in Column 4 is the equivalent of the 95% of the volume weighted average price of the Issuer's Common Stock for the 75 days immediately preceding the 15th of December, 2022. The shares issued upon exercise of the option were gifted to the Reporting Person by Reporting Person's spouse and Reporting Person, as direct owner, disposed of the shares.
F3 On November 1, 2020, the Reporting Person's spouse was issued a ten-year option to purchase 10,500,000 shares of common stock. The vesting schedule for the remaining shares issuable upon exercise is: (i) 4,250,875 shares, which vested November 1, 2021; (ii) 2,625,000 shares, which vested on November 1, 2022; and (iii) 2,625,000 shares will vest on November 1, 2023.