David W. Pointer - Oct 16, 2023 Form 4 Insider Report for SOLITRON DEVICES INC (SODI)

Signature
/s/ David W. Pointer
Stock symbol
SODI
Transactions as of
Oct 16, 2023
Transactions value $
-$651,266
Form type
4
Date filed
10/18/2023, 08:08 AM
Previous filing
Dec 30, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SODI Common Stock Other -$717K -67.1K -100% $10.70 0 Oct 16, 2023 See Footnote F1, F2
transaction SODI Common Stock Other $66.2K +6.19K +26.9% $10.70 29.2K Oct 16, 2023 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were owned by VI Capital Fund LP, for which Mr. Pointer is the managing partner. In prior reports, Mr. Porter reported the beneficial ownership of the 67,054 shares of Solitron. VI Capital is in the process of liquidating. As part of the process partners had the option of receiving cash or shares of common stock in Solitron. VI Capital agreed to sell 35,000 shares not being distributed to Cedar Creek Partners LLC, managed by Tim Eriksen, Solitron's CEO, and 19,482 shares not being distributed to Mark Matson, Solitron's COO, at the mid point between the bid and ask price on October 11, 2023 which was $10.70 per share.
F2 These securities were distributed from VI Capital, a fund managed by Mr. Pointer, that is in the process of liquidating. Mr. Pointer had the option of receiving cash or shares of Solitron in the liquidation. Mr. Pointer chose shares of Solitron in proportion to his ownership in VI Capital Fund.