Joseph N. Forkey - Mar 1, 2022 Form 4 Insider Report for PRECISION OPTICS CORPORATION, INC. (POCI)

Role
Chief Executive Officer, Director
Signature
/s/ Joseph Forkey
Stock symbol
POCI
Transactions as of
Mar 1, 2022
Transactions value $
$0
Form type
4
Date filed
3/3/2022, 03:39 PM
Previous filing
Jun 9, 2021
Next filing
Dec 29, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction POCI Common Stock Options Exercise $36K +30K +8.99% $1.20* 364K Mar 2, 2022 Direct
transaction POCI Common Stock Tax liability -$36K -16K -4.4% $2.25 348K Mar 2, 2022 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 POCI Stock Option (Right to Buy) Gift -120K -18.46% 530K Mar 1, 2022 Common Stock 120K $1.20 Direct F2
transaction POCI Stock Option (Right to Buy) Options Exercise -30K -5.66% 500K Mar 2, 2022 Common Stock 30K $1.20 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects 16,000 shares withheld by Issuer at the market price of $2.25 per share to fund the cashless exercise of 30,000 options at an exercise price of $1.20 per share.
F2 The options were granted by the Issuer to compensate executive officers for their services.

Remarks:

The reporting person exercised and gifted the options because they were about to expire. The transactions reported above in Table I reflect the cashless exercise transactions of 30,000 stock options. The cashless exercise for the options is reported in two lines. The first line of the cashless exercise transaction is coded M in column 4 of Table I and reports in column 5 the number of shares issuable upon exercise of the options had cash been paid to exercise the options, together with the exercise price with Code A for acquired. The line coded F in column 3 of Table I relates to the same cashless exercise on the preceding line and reports in Column 5 the number of shares deducted from the total number of shares issuable to pay for the cashless exercise of such options with Code D for disposed. The transactions reported in Table II above, reflect the disposition of the same stock options whose cashless exercise is disclosed in Table I above. In addition, the reporting person gifted certain stock options to a charity in a transaction coded with Code G.