Minton Darren C. 4
4 · SMART FOR LIFE, INC. · Filed Jun 12, 2023
Insider Transaction Report
Form 4
Minton Darren C.
DirectorPresident
Transactions
- Purchase
Series B Preferred Stock
2023-05-26$223.00/sh+1,574$351,002→ 1,574 totalFrom: 2023-05-26→ Common Stock
Footnotes (3)
- [F1]Each share of Series B Preferred Stock is convertible at the option of the reporting person into such number of shares of Common Stock determined by dividing the stated value of $223.00 per share by the conversion price on such conversion date. The conversion price is initially equal to $2.23 per share, subject to standard adjustments for stock splits, stock combinations, stock dividends, reclassifications, mergers, consolidations, reorganizations and similar transactions (subject to certain beneficial ownership limitations).
- [F2]The reporting person received the shares of Series B Preferred Stock in exchange for the cancellation of deferred compensation owed to the reporting person in the amount of $350,826, or for approximately $223 per share.
- [F3]The Series B Preferred Stock has no expiration date.