INNOVATE Corp. — Director's Dealing 2020

Nov 25, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HC2 HOLDINGS, INC. (HCHC)
CIK: 0001006837
Period of Report: 2020-11-20

Reporting Person: Herbst Suzi R (Chief Administrative Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-20	Common Stock	X	10377	$2.27	Acquired	101627	Direct
2020-11-20	Common Stock	X	3276	$2.27	Acquired	9276	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-20	Subscription Rights (right to buy)	$2.27	X	19000	Disposed	2020-11-20	Common Stock (10377.0)	Direct
2020-11-20	Subscription Rights (right to buy)	$2.27	X	6000	Disposed	2020-11-20	Common Stock (3276.0)	Indirect

Footnotes

F1: These shares were directly acquired by the reporting person as a result of the exercise of subscription rights which were issued to the reporting person in the Issuer's rights offering.

F2: The shares of common stock reported herein are held in two trusts, each trust for the benefit of one of the Reporting Person's children. The Reporting Person's spouse serves as trustee for each trust. The Reporting Person disclaims beneficial ownership of all securities held by such trusts except to the extent of her pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F3: Every one (1) subscription right entitles the reporting person to purchase 0.5462 shares of the Issuer's common stock at a subscription price per full share of $2.27.