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: Phipps David (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-21	Common Stock, par value $0.0001	M	400000	$0.20	Acquired	439952	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	400000	Acquired	2030-08-20	Common Stock par value $0.0001 (400000)	Direct
2020-08-21	Non-Qualified Stock Option (right to buy)	$0.20	M	400000	Disposed	2030-08-20	Common Stock (400000)	Direct

Footnotes

F1: Represents the Reporting Person's common stock held of 39,952 and exercise of 400,000 non-qualified options as reported in Table II of this Form. Following such exercise in full, the Reporting Person received 320,000 shares of common stock of the Company, with 80,000 shares of common stock withheld by the Company to cover the payment of the exercise price.

F2: 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.