STERN ADAM K 4
4 · DarioHealth Corp. · Filed Mar 1, 2024
Insider Transaction Report
Form 4
STERN ADAM K
Director
Transactions
- Award
Series-C Preferred Stock
2024-02-15$1000.00/sh+250$250,000→ 250 total(indirect: By Partnership)Exercise: $2.02→ Common Stock
Footnotes (2)
- [F1]Subject to beneficial ownership limitations provided for in the offering documents relating to the sale of the Series-C Preferred Stock, each share of Series-C Preferred Stock shall automatically convert into shares of the registrant's common stock at the conversion price of $2.02 upon the earlier of (i) the 15-month anniversary of the effective date of the certificate of designation, or (ii) the consent to conversion by holders of at least 50.1% of the outstanding shares of Series-C Preferred.
- [F2]The Series C Preferred Stock initially converts into shares of common stock at a conversion price of $2.02. In addition, the holders of Series c Preferred Stock will also be entitled dividends payable as follows: (i) a number of shares of Common Stock equal to seven and a half percent (7.5%) of the number of shares of Common Stock issuable upon conversion of the Series C Preferred Stock then held by such holder for each full quarter anniversary of holding for a total of four (4) quarters from the closing date, and (ii) a number of shares of common stock equal to fifteen percent (15%) of the number of shares of common stock issuable upon conversion of the Series C Preferred Stock then held by such holder on the fifth full quarter from the closing date.