NextPlat Corp — Director's Dealing 2020

Sep 1, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ORBSAT CORP (OTC: OSAT)
CIK: 0001058307
Period of Report: 2020-08-21

Reporting Person: CARLISE THERESA (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-21	Common Stock, par value $0.0001	M	56800	$0.20	Acquired	56800	Direct
2020-08-21	Common Stock, par value $0.0001	A	5000	$0.20	Acquired	61800	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-08-21	Non-Qualified Stock Option (right to buy)	$0.20	A	71000	Acquired	2030-08-20	Common Stock (71000)	Direct
2020-08-21	Non-Qualified Stock Option (right to buy)	$0.20	M	71000	Disposed	2030-08-20	Common Stock (71000)	Direct

Footnotes

F1: Represents the Reporting Person's exercise of 71,000 non-qualified options as reported in Table II of this Form. Following such exercise in full, the Reporting Person received 56,800 shares of common stock of the Company, with 14,200 shares of common stock withheld by the Company to cover the payment of the exercise price.

F2: Represents a restricted stock award approved by the Board of Directors on August 21, 2020 granted pursuant to the 2020 Equity Incentive Plan (the "Plan"), subject to shareholder approval of the Plan.

F3: The grant of these non-qualified options was approved by the Registrant's Board of Directors on August 21, 2020 and granted pursuant to the 2020 Equity Incentive Plan (the "Plan"), subject to shareholder approval of the Plan. The options vested immediately and were exercised in full upon grant, as reporting Table I of this Form.