Nirajkumar Patel - Mar 5, 2022 Form 4 Insider Report for Kaival Brands Innovations Group, Inc. (KAVL)

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	KAVL	Restricted Stock Units	Disposed to Issuer	$0	-121K	-100%	$0.00^*	0	Mar 5, 2022	Common Stock	121K		Direct	F1, F2
transaction	KAVL	Restricted Stock Units	Disposed to Issuer	$0	-500K	-100%	$0.00^*	0	Mar 5, 2022	Common Stock	500K		Direct	F1, F3
transaction	KAVL	Stock Options	Award	$0	-600K	-50%	$0.00	600K	Mar 5, 2022	Common Stock	600K	$2.85	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of KAVL's common stock.
F2	On May 28, 2020, the reporting person was granted 250,000 RSUs. The RSUs vest over a three-year period, with a portion vesting immediately on the grant date, and the reminder partially vesting every three months. On March 5, 2022, the RSUs were cancelled by the mutual agreement of KAVL and the reporting person. Any unvested RSU shares were cancelled.
F3	On May 28, 2020, the reporting person was granted 500,000 RSUs. The RSUs vest only in an event of a change of control of KAVL or KAVL achieves in excess of $1 billion in accumulated total gross revenues during the period beginning on March 9, 2020 and ending on October 31, 2023. On March 5, 2022, the RSUs were cancelled by the mutual agreement of KAVL and the reporting person. No vested prior to the cancellation date.
F4	300,000 shares vested on the grant date. The remaining shares will vest on March 5, 2023.