Pershing Edward 4

What Happened

• Edward Pershing, CEO and Director of Provectus Biopharmaceuticals (PVCT), was reported on Form 4 as receiving a derivative award on 2026-02-05 (transaction code A). The filing shows "N/A" shares and a $0.00 acquisition price, meaning no common shares were issued and no cash was paid at the time of the grant.
• The grant relates to convertible securities: an 8% unsecured convertible promissory note that can be converted into Series D‑1 Convertible Preferred Stock at $2.862 per preferred share (Footnote 1). Each Series D‑1 Preferred share is convertible into 10 shares of common stock (Footnote 2).

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed within the usual two-business-day window).
• Reported as an award/grant (transaction code A); reported quantity = "N/A" and price = $0.00.
• Conversion terms (from footnotes):
  • Note convertible into Series D‑1 Preferred at $2.862 per preferred share.
  • Note may be voluntarily converted any time while outstanding; it automatically converts 12 months after issue.
  • Each Series D‑1 Preferred converts into 10 common shares; Series D‑1 auto-converts into common on Dec 31, 2028 unless earlier converted.
• Shares owned after the transaction are not disclosed on the provided summary of the Form 4.
• No immediate common-stock purchase or sale occurred — this is a derivative award/financing instrument.

Context

• This was not a purchase or sale of common stock but a grant of convertible securities tied to the issuer’s 2025 financing. Because conversion into common shares is conditional/timed, there is no immediate change in outstanding common shares or direct market transaction by the insider.
• For retail investors: such awards can affect future dilution if converted, but they do not by themselves indicate an immediate buying or selling signal by the insider.