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Red Cat Holdings, Inc. — Director's Dealing 2021
Oct 5, 2021
32091_dirs_2021-10-05_373fe839-0f2a-492e-9d59-9419a8c97283.zip
Director's Dealing
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SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: Red Cat Holdings, Inc. (RCAT)
CIK: 0000748268
Period of Report: 2021-09-01
Reporting Person: Matus George Michael (CEO of Teal Drones subsidiary)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 400000 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Common Stock | $ | Common Stock (600000) | Direct |
Footnotes
F1: Vesting 25% on August 31, 2021 and 25% on the 12 months anniversary of issuance, and 6.25% quarterly thereafter until fully vested, provided 50% shall vest in 12 months if the trailing 12 month's revenue is greater than $10 million and 100% shall vest in 24 months if the trailing 12 months revenue is greater than $15 million.
F2: Pursuant to Employment Agreement dated as of September 1, 2021, the Reporting Person will be issued up to 600,000 stock options if by September 1, 2023 certain revenue targets are attained with a margin equal to or greater than 25%, 150,000 at $13 million, $18 million, $25 million and $30 million of revenue, each of which will have a 90 day vesting schedule once granted.