4//SEC Filing
Cogburn Ronald Clark 4
Accession 0001104659-22-034106
CIK 0001620179other
Filed
Mar 14, 8:00 PM ET
Accepted
Mar 15, 9:04 PM ET
Size
11.9 KB
Accession
0001104659-22-034106
Insider Transaction Report
Form 4
Cogburn Ronald Clark
DirectorChief Executive Officer
Transactions
- Disposition to Issuer
Common Stock
2022-03-11−34,120→ 85,645 total - Award
6.00% Series B Cumulative Convertible Perpetual Pref. Stock
2022-03-11+1,706→ 1,706 totalExercise: $1.25→ Common Stock (34,120 underlying)
Footnotes (4)
- [F1]On March 11, 2022, the Issuer completed an offer to exchange shares of its Common Stock for its 6.00% Series B Cumulative Convertible Perpetual Preferred Stock (the "Series B Preferred Stock"), with each 20 shares of Common Stock being exchangeable in the Offer for one share of Series B Preferred Stock having a liquidation preference of $25.00 per share of Series B Preferred Stock (an effective price of $1.25 per share of Common Stock). For purposes of the exemption under Rule 16b-3 promulgated under the Exchange Act, the board of directors of the Issuer approved the transactions contemplated by this Form 4.
- [F2]Holders of the Issuer's Series B Preferred Stock have the option to convert some or all of their shares of Series B Preferred Stock initially into shares of Common Stock at a Conversion Price of $1.25 (subject to adjustment in certain events). In addition, if at any time the Five-Day VWAP of the Issuer's Common Stock exceeds the Conversion Price, the Issuer will have the option to convert all outstanding shares of Series B Preferred Stock into shares of Common Stock at the Conversion Price of $1.25. The Series B Preferred Stock has no maturity date.
- [F3]A liquidation preference of $25.00 per share of Series B Preferred Stock means an effective price of $1.25 per share of Common Stock tendered in the Offer.
- [F4]The number of shares reported in this Form 4 account for the one-for-three Reverse Stock Split effected by the Issuer on January 25, 2021.
Issuer
Exela Technologies, Inc.
CIK 0001620179
Entity typeother
Related Parties
1- filerCIK 0001712421
Filing Metadata
- Form type
- 4
- Filed
- Mar 14, 8:00 PM ET
- Accepted
- Mar 15, 9:04 PM ET
- Size
- 11.9 KB