Preston Yarborough - 26 Nov 2024 Form 4 Insider Report for Twin Vee PowerCats, Co. (VEEE)

Role: Director
Signature: /s/ Preston Yarborough
Issuer symbol: VEEE
Transactions as of: 26 Nov 2024
Net transactions value: $0
Form type: 4
Filing time: 26 Nov 2024, 16:56:15 UTC
Previous filing: 28 Jun 2024
Next filing: 21 May 2025
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	VEEE	Stock Option (Right to Buy)	Award		+45,874			45,874	26 Nov 2024	Common Stock	45,874	$8.17	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	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.
F2	Received in exchange for a stock option to acquire 75,000 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.

Content

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.

Received in exchange for a stock option to acquire 75,000 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.