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: Sena Michael J. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-20	Common Stock	X	44242	$2.27	Acquired	614553	Direct
2020-11-23	Common Stock	S	91291	$2.4046	Disposed	523262	Direct
2020-11-24	Common Stock	S	1497	$2.5081	Disposed	521765	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-20	Subscription Rights (right to buy)	$2.27	X	81000	Disposed	2020-11-20	Common Stock (44242.0)	Direct

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: Shares disposed of to satisfy taxes payable in connection with the vesting of previously awarded restricted stock.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.39 to $2.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote 1.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.50 to $2.51, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote 1.

F5: 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.