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

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ James Ballengee
Issuer symbol
VIVK
Transactions as of
10 Nov 2023
Net transactions value
+$10,999,968
Form type
4
Filing time
14 Nov 2023, 20:49:21 UTC
Previous filing
29 Nov 2022
Next filing
06 Aug 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VIVK Common Stock, par value $0.001 Other $10,000,001 +7,042,254 +234% $1.42 10,051,806 10 Nov 2023 See Footnote F1, F3
transaction VIVK Common Stock, par value $0.001 Other $999,967 +923,672 +924% $1.08 1,023,672 10 Nov 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).