4//SEC Filing
Lai John 4
Accession 0001493152-23-005953
CIK 0001512922other
Filed
Feb 23, 7:00 PM ET
Accepted
Feb 24, 2:42 PM ET
Size
6.0 KB
Accession
0001493152-23-005953
Insider Transaction Report
Form 4
Lai John
DirectorPresident10% Owner
Transactions
- Award
Common Stock
2023-02-24+60,600→ 1,138,592 total
Footnotes (3)
- [F1]This award ("Award") was granted under the PetVivo Holdings, Inc. Amended and Restated 2020 Equity Incentive Plan ("2020 Plan") in the form of restricted stock units ("RSU's) which will be settled in shares of the Company's common stock on a one-for-one basis. The Award vests in six equal installments, with 10,100 RSU's vesting on March 1, 2023 and 10,100 RSU's vesting on the first day of each month thereafter such that all RSU's will be fully-vested as of August 1, 2023, subject to Mr. Lai's continued employment with the Issuer through each applicable vesting date.
- [F2]Mr. Lai voluntarily agreed to accept this Award in lieu of receiving cash for his salary payments during the six month period beginning on March 1, 2023 and expiring on August 31, 2023 (the 'Interim Period"). The Compensation Committee calculated the total number of shares to be issued to Mr. Lai by taking (A) Mr. Lai's salary during the Interim Period ($175,000) divided by (B) the volume weighted average closing price of the Issuer's common stock during the 10 day period preceding February 22, 2023 ($2.8878), rounded up to the nearest whole share.
- [F3]Includes 160,600 shares that will be issued over time upon vesting and settlement of RSU's granted to Mr. Lai under the 2020 Plan.
Documents
Issuer
PetVivo Holdings, Inc.
CIK 0001512922
Entity typeother
Related Parties
1- filerCIK 0001302378
Filing Metadata
- Form type
- 4
- Filed
- Feb 23, 7:00 PM ET
- Accepted
- Feb 24, 2:42 PM ET
- Size
- 6.0 KB