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

Role: Director
Signature: /s/ Preston Yarborough
Stock symbol: VEEE
Transactions as of: Nov 26, 2024
Transactions value $: $0
Form type: 4
Date filed: 11/26/2024, 04:56 PM
Previous filing: Jun 28, 2024

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		+45.9K			45.9K	Nov 26, 2024	Common Stock	45.9K	$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.