James Ballengee - Nov 10, 2023 Form 4 Insider Report for Vivakor, Inc. (VIVK)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ James Ballengee
Stock symbol
VIVK
Transactions as of
Nov 10, 2023
Transactions value $
$10,999,968
Form type
4
Date filed
11/14/2023, 08:49 PM
Previous filing
Nov 29, 2022
Next filing
Aug 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VIVK Common Stock, par value $0.001 Other $10M +7.04M +234% $1.42 10.1M Nov 10, 2023 See Footnote F1, F3
transaction VIVK Common Stock, par value $0.001 Other $1M +924K +923.67% $1.08 1.02M Nov 10, 2023 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares issued to Jorgan Development, LLC ("Jorgan"), in exchange for forgiveness and cancellation of the note payable in the amount of $10,000,000.68 per the terms of a Membership Interest Purchase Agreement between Jorgan and the Issuer dated August 1, 2022.
F2 The shares issued to James Ballengee pursuant to his employment agreement with the Issuer, pursuant to which $1,000,000 in shares were to be issued priced at the volume weighted average price (VWAP) for the five trading days preceding the effective date of the employment agreement, which was $1.082635 per share.
F3 Mr. Ballengee has beneficial ownership of shares owned by Jorgan Development, LLC (10,021,710 shares) and JBAH Holdings, LLC (30,096 shares).