RYVYL Inc. — Director's Dealing 2022

Dec 21, 2022

SEC Form 4/A — Form 4/A

Issuer: RYVYL Inc. (RVYL)
CIK: 0001419275
Period of Report: 2020-11-04

Reporting Person: Errez Ben (Director, Chairman of Board of Directors, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-04	Common Stock par value $0.001	M	500000	$0.065	Acquired	125235244	Direct
2020-11-04	Common Stock par value $0.001	F	52420	$0.065	Disposed	125182824	Direct
2020-11-25	Common Stock par value $0.001	S	52083	$0.48	Disposed	125130741	Direct
2021-02-12	Common Stock par value $0.001	D	1800000	$2.33	Disposed	123830741	Indirect
2021-01-05	Common Stock par value $0.001	G	10000	$0.00	Disposed	123820741	Direct
2021-02-12	Common Stock par value $0.001	S	192000	$1.30	Disposed	123628741	Direct
2021-03-15	Common Stock par value $0.001	A	389	$12.84	Acquired	20605179	Direct
2021-04-15	Common Stock par value $0.001	A	495	$10.10	Acquired	20605674	Direct
2021-05-15	Common Stock par value $0.001	A	542	$9.22	Acquired	20606216	Direct
2021-06-15	Common Stock par value $0.001	A	343	$14.60	Acquired	20609564	Direct
2021-07-15	Common Stock par value $0.001	A	482	$10.37	Acquired	20610046	Direct
2021-08-15	Common Stock par value $0.001	A	647	$7.73	Acquired	20610693	Direct
2021-09-15	Common Stock par value $0.001	A	496	$10.09	Acquired	20611189	Direct
2021-10-15	Common Stock par value $0.001	A	659	$7.59	Acquired	20611848	Direct
2021-11-24	Common Stock par value $0.001	D	1000000	$5.59	Disposed	19611848	Indirect
2022-01-20	Common Stock par value $0.001	A	758	$6.60	Acquired	19612606	Direct
2022-01-20	Common Stock par value $0.001	A	1008	$4.96	Acquired	19613614	Direct
2022-01-27	Common Stock par value $0.001	A	3513	$4.27	Acquired	19617127	Direct
2022-03-15	Common Stock par value $0.001	A	1481	$2.43	Acquired	19618608	Direct
2022-04-27	Common Stock par value $0.001	A	3354	$3.40	Acquired	19630146	Direct
2022-07-22	Common Stock par value $0.001	A	15152	$2.12	Acquired	19645298	Direct
2021-07-22	Common Stock par value $0.001	A	17646	$0.85	Acquired	19662944	Direct
2022-08-16	Common Stock par value $0.001	A	53149	$1.27	Acquired	19716093	Direct
2022-10-03	Common Stock par value $0.001	D	1000000	$0.82	Disposed	18716093	Indirect
2022-10-17	Common Stock par value $0.001	A	14283	$1.05	Acquired	18730376	Direct
2022-10-27	Common Stock par value $0.001	F	144	$0.94	Disposed	18730232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-04	Stock Options	$0.065	M	500000	Disposed	2025-06-24	Common Stock, par value $0.001 (500000)	Direct
2020-12-01	Stock Options	$1.01	A	500000	Acquired	2026-06-01	Common Stock, par value $0.001 (500000)	Direct
2021-06-02	Stock Options	$13.31	A	3005	Acquired	2026-06-01	Common Stock, par value $0.001 (3005)	Direct
2022-04-13	Stock Options	$3.66	A	8184	Acquired	2027-10-13	Common Stock, par value $0.001 (8184)	Direct

Footnotes

F1: Mr. Errez did a cashless exercise of his 500,000 stock options granted on 6/24/2020, 52,420 of which were used to pay the exercise price.

F2: The reporting party indirectly sold 1.8 million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.

F3: The reporting person serves as a managing member of GreenBox POS LLC.

F4: The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Errez's 123,628,741 shares of common stock became 20,604,790 shares of common stock.

F5: The Company effected a reverse stock split of 1:6 on February 17, 2021. As a result, Mr. Errez's 500,000 stock options became 83,333 stock options.

F6: Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day.

F7: The reporting person indirectly sold one million shares to RYVYL Inc. with a purchase price based on the value of the shares as of the date on which the transaction was agreed.

F8: Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day. The issuances for November and December 2021 were delayed and consolidated in one issuance.

F9: On January 27, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 3,513 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest immediately upon issuance, an additional 1/3 of the shares shall vest each month thereafter, and all shares vest fully on March 15, 2022.

F10: Mr. Errez earns $5,000 worth of shares of Common stock monthly, issuable on the 15th day of each month in the number based on the closing price of our Common Stock on that date or the next trading day. As part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted shares valued at $3,600 in a March issuance that will be applied against Q2 issuances.

F11: On April 27th 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 3,354 shares of common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted shall vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on December 15, 2022.

F12: Mr. Errez was granted 15,152 shares for his 2021 performance review in accordance with the 2021 Restricted Stock Plan.

F13: On July 15th, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 17,646 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on March 15th, 2023.

F14: The Board of Directors approved a $67,500 raise in compensation for Mr. Errez for the remainder of the 2022 calendar year. Per the approval of the Board of Directors, Mr. Errez elected to receive this amount in shares of Common Stock in lieu of cash.

F15: On October 17, 2022, as part of his quarterly compensation as a director of the Company, the Board of Directors of the Company granted Mr. Errez 14,283 shares of Common Stock pursuant to the Company's 2021 Restricted Stock Plan, whereby 1/3 of the shares granted vest in 6 months, and an additional 1/3 of the shares shall vest each month thereafter. All shares will vest fully on June 14, 2023.

F16: Represents withholding of shares of common stock for the tax liability associated with the vesting of 1/3 of the registered shares granted on April 27, 2022.