Pershing Edward 4

What Happened

• Edward Pershing, CEO and Director of Provectus Biopharmaceuticals (PVCT), converted a 2025 unsecured convertible promissory note into 37,744 shares of Series D‑1 Convertible Preferred Stock on January 30, 2026. The Form 4 reports this as a derivative conversion (transaction code M) with $0.00 cash paid.
• Each Series D‑1 preferred share is convertible into 10 shares of common stock, so the 37,744 preferred shares represent the potential to receive 377,440 common shares if converted. Per the filing footnotes, the 2025 Note converted at an effective preferred‑share price of $2.862 under the terms of the 2025 Financing.

Key Details

• Transaction date: January 30, 2026; Form 4 filed February 2, 2026 (timely filing).
• Reported transaction: Exercise/conversion of derivative (code M) — 37,744 Series D‑1 preferred shares acquired; reported price $0.00 (conversion of debt rather than cash purchase).
• Conversion terms: Each Series D‑1 preferred converts into 10 common shares; Series D‑1 will automatically convert into common on June 20, 2026 unless earlier converted.
• Shares owned after transaction: The filing excerpt reports acquisition of 37,744 Series D‑1 preferred shares; total common/total holdings after conversion are not specified in the provided excerpt.
• Relevant footnotes: conversion resulted from the automatic conversion of the 2025 Note into Series D‑1 preferred under the Issuer’s 2025 Financing (see footnotes F1–F4).

Context

• This was a conversion of debt to preferred equity (derivative conversion), not an open‑market purchase or sale — no cash changed hands at the time of conversion.
• The preferred shares can convert into a large block of common shares (10:1 ratio), which could materially increase the insider’s potential common‑share exposure once converted.
• Facts only — the filing shows the mechanics of the conversion and timing; it does not state Pershing’s intent or any immediate sale of common shares.