4//SEC Filing
SOKOLOW LEONARD J 4
Accession 0001493152-25-010371
CIK 0001598981other
Filed
Mar 13, 8:00 PM ET
Accepted
Mar 14, 4:15 PM ET
Size
19.7 KB
Accession
0001493152-25-010371
Insider Transaction Report
Form 4
SOKOLOW LEONARD J
DirectorChief Executive Officer
Transactions
- Tax Payment
Common Stock, no par value
2025-03-12$1.24/sh−22,325$27,683→ 718,895 total
Holdings
- 150,000
Stock Option (right to buy)
Exercise: $4.00From: 2017-12-31Exp: 2027-04-19→ Common Stock, no par value (150,000 underlying) - 100,000
Stock Option (right to buy)
Exercise: $12.00From: 2020-12-31Exp: 2025-12-31→ Common Stock, no par value (100,000 underlying) - 100,000
Stock Option (right to buy)
Exercise: $12.00From: 2021-12-31Exp: 2026-12-31→ Common Stock, no par value (100,000 underlying) - 17,500
Stock Option (right to buy)
Exercise: $12.34From: 2022-03-31Exp: 2027-03-11→ Common Stock, no par value (17,500 underlying) - 17,500
Stock Option (right to buy)
Exercise: $3.28From: 2023-04-30Exp: 2028-04-05→ Common Stock, no par value (17,500 underlying) - 450,000
Stock Option (right to buy)
Exercise: $1.58From: 2023-09-12Exp: 2028-09-12→ Common Stock, no par value (450,000 underlying) Subordinated Convertible Promissory Note
Exercise: $3.00Exp: 2025-05-16→ Common Stock, no par value- 10,000
Series A-1 Preferred Stock
→ Common Stock, no par value (125,000 underlying) - 150,000
Stock Option (right to buy)
Exercise: $0.60From: 2015-11-15Exp: 2025-11-15→ Common Stock, no par value (150,000 underlying) - 150,000
Stock Option (right to buy)
Exercise: $3.00From: 2017-06-30Exp: 2027-04-19→ Common Stock, no par value (150,000 underlying)
Footnotes (6)
- [F1]The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at any time on or prior to the maturity date at the holder's discretion at the conversion price of $3.00 per share.
- [F2]Represents the principal amount of the convertible note and excludes interest that may accrue. Beginning January 1, 2024, the note accrues interest at a rate of 10.0% per annum, which is payable annually, in cash or common stock, at the holder's discretion. Prior to such date, the note accrued interest at a rate of 6.0% per annum.
- [F3]Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
- [F4]The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share and is convertible at any time, at the holder's option, into shares of the issuer's common stock at an initial conversion price of $2.00 per share (or 12.5 shares of common stock for each share of Preferred Stock), subject to adjustment provisions (including certain anti-dilution provisions) and a minimum conversion price of $1.20 per share. Until October 4, 2026, the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. In addition, the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027. The Preferred Stock has no expiration date.
- [F5]Includes 180,000 restricted stock units ("RSUs"), which will vest as follows, subject to continued employment through the vesting date: 150,000 in three semi-annual installments of 50,000 beginning on September 12, 2025 and 30,000 on March 12, 2027.
- [F6]The reporting person has elected to satisfy his tax withholding obligation in connection with the vesting of RSUs by directing the issuer to withhold shares otherwise issuable upon vesting of the grant.
Documents
Issuer
SKYX Platforms Corp.
CIK 0001598981
Entity typeother
Related Parties
1- filerCIK 0000923890
Filing Metadata
- Form type
- 4
- Filed
- Mar 13, 8:00 PM ET
- Accepted
- Mar 14, 4:15 PM ET
- Size
- 19.7 KB