John Francis Possumato - Apr 20, 2022 Form 4 Insider Report for Driveitaway Holdings, Inc. (CLCN)

Signature
/s/ John Possumato, Individually
Stock symbol
CLCN
Transactions as of
Apr 20, 2022
Transactions value $
$0
Form type
4
Date filed
4/29/2022, 04:01 PM
Previous filing
Apr 29, 2022
Next filing
Jun 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLCN Common Stock Options Exercise +1.91M 1.91M Apr 20, 2022 Direct F1
transaction CLCN Common Stock Options Exercise +34.9M 34.9M Apr 20, 2022 Driveitaway, LLC F1, F2

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 CLCN Series A Convertible Preferred Stock Conversion of derivative security -56.3K -100% 0 Apr 20, 2022 Common Stock 1.91M Direct F1
transaction CLCN Series A Convertible Preferred Stock Conversion of derivative security -1.03M -100% 0 Apr 20, 2022 Common Stock 34.9M Driveitaway, LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The common shares were acquired upon the voluntary conversion of Series A Convertible Preferred Stock held by the reporting person. Each share of Series A Convertible Preferred Stock was convertible into 33.94971 shares of common stock at the option of the holder, and mandatorily at the option of the company under certain circumstances.
F2 John Possumato is the manager of DriveItAway, LLC, and has voting control over shares owned by DriveItAway, LLC, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by DriveItAway, LLC, but disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.