Busch Jeffrey 4
4 · IMAC Holdings, Inc. · Filed Jan 2, 2025
Insider Transaction Report
Form 4
Busch Jeffrey
Director
Transactions
- Award
Common Stock, no par value
2024-12-31+3,333→ 3,333 total
Holdings
- 265
Series C-1 Convertible Preferred Stock
Exercise: $2.56→ Common Stock - 1,641
Series E Convertible Preferred Stock
Exercise: $3.64→ Common Stock
Footnotes (8)
- [F1]The Reporting Person received shares of common stock granted under the Issuer's 2018 Incentive Compensation Plan constituting annual board compensation with respect Reporting Person's service as a director during 2024.
- [F2]The conversion price is subject to adjustment from time to time.
- [F3]The shares of Series C-1 Preferred Convertible Preferred Stock, par value $0.001 per share (the "Series C-1 Preferred Stock") are immediately convertible into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock").
- [F4]The Series C-1 Preferred Stock is perpetual and therefore has no expiration.
- [F5]Currently, holders of Series C-1 Preferred Stock receive quarterly dividends in the form of an increase in the stated value of their shares of Series C-1 Preferred Stock until the Issuer obtains stockholder approval to issue dividends in the form of shares of Common Stock. Accordingly, the number of shares of Common Stock underlying the Series C-1 Preferred Stock held by the Reporting Person changes quarterly. However, the Series C-1 Preferred Stock is subject to a beneficial ownership cap that prohibits the conversion of the Series C-1 Preferred Stock into shares of Common Stock to the extent that such conversion would cause the reporting person's beneficial ownership, together with its affiliates, to exceed 9.99%.
- [F6]The shares of Series E Preferred Convertible Preferred Stock, par value $0.001 per share (the "Series E Preferred Stock") are immediately convertible into shares of the Common Stock.
- [F7]The Series E Preferred Stock is perpetual and therefore has no expiration.
- [F8]Currently, holders of Series E Preferred Stock receive quarterly dividends in the form of an increase in the stated value of their shares of Series E Preferred Stock until the Issuer obtains stockholder approval to issue dividends in the form of shares of Common Stock. Accordingly, the number of shares of Common Stock underlying the Series E Preferred Stock held by the Reporting Person changes quarterly. However, the Series E Preferred Stock is subject to a beneficial ownership cap that prohibits the conversion of the Series E Preferred Stock into shares of Common Stock to the extent that such conversion would cause the reporting person's beneficial ownership, together with its affiliates, to exceed 9.99%.