INNOVATE Corp. — Director's Dealing 2022

May 10, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNOVATE Corp. (VATE)
CIK: 0001006837
Period of Report: 2022-05-06

Reporting Person: GLAZER AVRAM A (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-06	Common Stock	P	100242	$2.9246	Acquired	19084196	Indirect
2022-05-09	Common Stock	P	300000	$2.7953	Acquired	19384196	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	56303	Direct
Common Stock	3139405	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.805 to $3.00, 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.

F2: The reported shares were purchased by Lancer Capital LLC ("Lancer"). The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole owner of Lancer, and in such capacity may be deemed to beneficially own the shares held of record by Lancer. The Reporting Person is the Trustee of the Trust, and in such capacity may be deemed to beneficially own the shares held of record by Lancer Capital and the Trust.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.72 to $2.86, 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.

F4: The reported shares are held by the Avram Glazer Irrevocable Exempt Trust (the "Trust"). Reporting person is the Trustee of the Trust, and in such capacity may be deemed to beneficially own the shares held of record by the Trust.