Joseph Visconti - Nov 26, 2024 Form 4 Insider Report for Forza X1, Inc. (FRZA)

Role
CEO, Executive Chairman, CPO, Director, 10%+ Owner
Signature
/s/ Joseph Visconti
Stock symbol
FRZA
Transactions as of
Nov 26, 2024
Transactions value $
$0
Form type
4
Date filed
11/26/2024, 04:59 PM
Previous filing
Sep 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRZA Common Stock Disposed to Issuer -98.4K -100% 0 Nov 26, 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 FRZA Stock Option (Right to Buy) Disposed to Issuer -400K -100% 0 Nov 26, 2024 Common Stock 245K $5.00 Direct F2, F3
transaction FRZA Stock Option (Right to Buy) Disposed to Issuer -100K -100% 0 Nov 26, 2024 Common Stock 61.2K $1.33 Direct F4, F5
transaction FRZA Stock Option (Right to Buy) Disposed to Issuer -144K -100% 0 Nov 26, 2024 Common Stock 88.1K $0.70 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Joseph Visconti is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Disposed of pursuant to 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 X1, Inc. ("Forza"), in exchange for 60,213 shares of Twin Vee common stock. 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 This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 244,666 shares of Twin Vee common stock for $8.17 per share.
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 This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 61,166 shares of Twin Vee common stock for $2.17 per share.
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 This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 88,079 shares of Twin Vee common stock for $1.138 per share.