Joseph C. Visconti - 26 Nov 2024 Form 4 Insider Report for Twin Vee PowerCats, Co. (VEEE)

Role
Director
Signature
/s/ Joseph Visconti
Issuer symbol
VEEE
Transactions as of
26 Nov 2024
Net transactions value
$0
Form type
4
Filing time
26 Nov 2024, 16:56:02 UTC
Previous filing
17 Sep 2024
Next filing
21 May 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VEEE Common Stock Award +60,213 +2.5% 2,429,142 26 Nov 2024 Direct F1

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 VEEE Stock Option (Right to Buy) Award +244,666 244,666 26 Nov 2024 Common Stock 244,666 $8.17 Direct F2, F3
transaction VEEE Stock Option (Right to Buy) Award +61,166 61,166 26 Nov 2024 Common Stock 61,166 $2.17 Direct F4, F5
transaction VEEE Stock Option (Right to Buy) Award +88,079 88,079 26 Nov 2024 Common Stock 88,079 $1.14 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in exchange for 98,442 shares of Forza X1, Inc. ("Forza") common stock issued in connection with the merger (the "Merger") of Twin Vee Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Twin Vee PowerCats Co., a Delaware corporation ("Twin Vee"), into Forza. Each share of Forza common stock was exchanged for 0.611666275 shares of Twin Vee common stock on the effective date of the Merger.
F2 Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on September 1, 2022.
F3 Received in the Merger in exchange for a stock option to acquire 400,000 shares of Forza common stock.
F4 Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on January 15, 2023.
F5 Received in the Merger in exchange for a stock option to acquire 100,000 shares of Forza common stock.
F6 Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on November 4, 2023.
F7 Received in the Merger in exchange for a stock option to acquire 144,000 shares of Forza common stock.