David I. Reichman - 11 Jun 2024 Form 4 Insider Report for GLOBAL TECH INDUSTRIES GROUP, INC. (GTII)

Reporting relationship: Chief Executive Officer, Director, 10%+ Owner
Issuer ticker: GTII
Reported as of: 11 Jun 2024
Net transaction value: $0
SEC form: 4
Accepted by SEC: 12 Jul 2024, 18:55:36 UTC
Prior SEC filing: 17 May 2024
Source filing: View source filing
Reporting owner signature: /s/ David Reichman

Key filing fact

David I. Reichman filed Form 4 for GLOBAL TECH INDUSTRIES GROUP, INC. (GTII) on 12 Jul 2024.

Key facts

This page summarizes David I. Reichman's Form 4 filing for GLOBAL TECH INDUSTRIES GROUP, INC. (GTII).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 12 Jul 2024, 18:55.

Change

Previous filing in this sequence was filed on 17 May 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

GTII transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -21,288,187
Change %: -33%
Price
Shares after: 43,723,945
Date: 11 Jun 2024
Ownership: Direct
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 2 footnotes

Footnote F1

On June 11, 2024, Global Tech Industries Group, Inc. (the "Company") entered into a Stock Cancellation Agreement with the Reporting Person pursuant to which 21,288,187 shares of the Company's common stock, $0.001 par value per share (the "Shares"), were canceled and are no longer issued and outstanding. The Shares were previously issued by the Company to the Reporting Person on or about January 25, 2023.

Footnote F2

The amount reflects the correct total after the presented transaction.