Roger Brooks - 24 Jun 2022 Form 4 Insider Report for Kaival Brands Innovations Group, Inc. (KAVL)

Role
Director
Signature
/s/ Eric Mosser, as attorney-in-fact
Issuer symbol
KAVL
Transactions as of
24 Jun 2022
Net transactions value
$0
Form type
4
Filing time
27 Jun 2022, 16:42:22 UTC
Previous filing
25 Feb 2022
Next filing
08 Feb 2023
SEC
View on sec.gov

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 Stock Options Disposed to Issuer $0 -16,667 -100% $0.000000* 0 24 Jun 2022 Common Stock 16,667 $10.56 Direct F1
transaction KAVL Stock Options Disposed to Issuer $0 -8,334 -33% $0.000000 16,666 24 Jun 2022 Common Stock 8,334 $25.98 Direct F1
transaction KAVL Stock Options Award $0 +125,000 $0.000000 125,000 24 Jun 2022 Common Stock 125,000 $1.72 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Company discovered that it inadvertently granted stock options to the reporting person in excess of the annual award limits for non-employee directors set forth in the Company's 2020 Stock and Incentive Compensation Plan. Accordingly, the Company and the reporting person agreed to cancel stock options that were granted in excess of such annual award limit.
F2 The shares underlying the stock option vested completely on the grant date.