STERN THEODORE 4
4 · Ipsidy Inc. · Filed Apr 21, 2021
Insider Transaction Report
Form 4
Ipsidy Inc.IDTY
STERN THEODORE
Director
Transactions
- Gift
Common Stock, $0.0001 par value per share
2021-04-19−8,166,667→ 0 total(indirect: See Footnote)
Holdings
- 15,000,000(indirect: See footnote)
Amended and Restated Promissory Notes
Exercise: $0.20From: 2020-02-14Exp: 2022-02-28→ Common Stock, $0.0001 par value per share (15,000,000 underlying) - 250,000
Common Stock Purchase Warrant
Exercise: $0.15From: 2020-06-30Exp: 2022-06-30→ Common Stock, $0.0001 par value per share (250,000 underlying) - 3,310,000(indirect: See Footnote)
Interest Shares
Exercise: $0.20From: 2017-01-31→ Common Stock, $0.0001 par value per share (3,310,000 underlying) - 375,000
15% Convertible Note
Exercise: $0.20From: 2020-02-14Exp: 2022-02-28→ Common Stock, $0.0001 par value per share (375,000 underlying) - 5,885,445
Common Stock, $0.0001 par value per share
Footnotes (3)
- [F1]Shares of common stock are held by the Theodore Stern Revocable Trust (the "Trust").
- [F2]On April 19, 2021, the Trust gifted 8,166,667 shares of common stock to Andrew A. Stern and Jonathan M. Stern, Mr. Stern's adult children, in their capacity as the Trustees of the 2000 Irrevocable Trust for Family of Theodore and Elizabeth S. Stern (the "2000 Trust"). The shares held by the 2000 Trust are subject to a lock up period for a period of one year from the date of the gift. Mr. Stern has no beneficial interest in the 2000 Trust.
- [F3]Represents 3,310,000 shares of common stock that may be issued upon the conversion of interest accrued at $0.20 per share under issued under that certain Unsecured Promissory Note in the principal amount as of the date hereof $2,000,000 issued to the Trust.