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NextPlat Corp — Director's Dealing 2021
Sep 15, 2021
34945_dirs_2021-09-15_c710f52e-6034-4c81-b473-c37c49e1f9a1.zip
Director's Dealing
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SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: ORBSAT CORP (OSAT)
CIK: 0001058307
Period of Report: 2021-08-24
Reporting Person: ELLENOFF DOUGLAS (Director, Chief Business Development)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock, par value $0.0001 | 100000 | Direct |
| Common Stock, par value $0.0001 | 25000 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2026-08-24 | Common Stock (300000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2027-08-24 | Common Stock (150000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2027-08-24 | Common Stock (250000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2028-08-24 | Common Stock (150000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2028-08-24 | Common Stock (250000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2029-08-24 | Common Stock (150000) | Direct | |
| Option to purchase Common Stock, par value $0.0001 | $5.35 | 2029-08-24 | Common Stock (250000) | Direct |
Footnotes
F1: Represents 100,000 shares of restricted common stock granted pursuant to that certain Employment Agreement, dated August 24, 2021, by and between the Company and the Reporting Person (the "Employment Agreement") and evidenced by a Restricted Stock Agreement, of which 40,000 shares vested immediately upon issuance on September 9, 2021, with an additional 20,000 shares of restricted stock to be issued and to vest on each of August 24, 2022, August 24, 2023 and August 24, 2024. Vesting conditioned on the Reporting Person serving on the Board of Directors at any time during the year in which the restricted stock is to vest.
F2: Option granted pursuant to the Employment Agreement and evidenced by a Stock Option Agreement. Option will vest subject to the Employment Agreement remaining in full force and effect on the vesting date.
F3: Option granted pursuant to the Employment Agreement and evidenced by a Stock Option Agreement. Option will vest subject to (a) the Employment Agreement remaining in full force and effect on the vesting date, and (b) the satisfaction of certain performance criteria set forth in the Employment Agreement.