4//SEC Filing
ELLENOFF DOUGLAS 4
Accession 0001493152-22-000594
CIK 0001058307other
Filed
Jan 5, 7:00 PM ET
Accepted
Jan 6, 6:42 PM ET
Size
6.8 KB
Accession
0001493152-22-000594
Insider Transaction Report
Form 4
ORBSAT CORPOSAT
ELLENOFF DOUGLAS
Director
Transactions
- Purchase
Common Stock, par value $0.0001
2022-01-05$3.24/sh+46,297$150,002→ 46,297 total(indirect: By Spouse)
Holdings
- 125,000
Common Stock, par value $0.0001
Footnotes (2)
- [F1]Includes 100,000 shares of restricted common stock granted pursuant to that certain Employment Agreement, dated August 24, 2021, by and between the Company and the Reporting Person (the "Employment Agreement") and evidenced by a Restricted Stock Agreement, of which 40,000 shares vested immediately upon issuance on September 9, 2021, with an additional 20,000 shares of restricted stock to be issued and to vest on each of August 24, 2022, August 24, 2023 and August 24, 2024. Vesting conditioned on the Reporting Person serving on the Board of Directors at any time during the year in which the restricted stock is to vest.
- [F2]Represents 46,297 shares of the Issuer's common stock acquired by the Reporting Person from the Issuer in a private placement transaction that closed on January 5, 2022, pursuant to a Securities Purchase Agreement dated December 31, 2021. The purchase price for the acquired shares was $3.24 per share, which is the closing transaction price of the Issuer's common stock reported by Nasdaq on December 31, 2021.
Documents
Issuer
ORBSAT CORP
CIK 0001058307
Entity typeother
Related Parties
1- filerCIK 0001208497
Filing Metadata
- Form type
- 4
- Filed
- Jan 5, 7:00 PM ET
- Accepted
- Jan 6, 6:42 PM ET
- Size
- 6.8 KB