Pershing Edward 4

What Happened

• Pershing Edward, CEO and director of PROVECTUS BIOPHARMACEUTICALS, reported an "A" (award/acquisition) transaction dated 2026-02-12. The Form 4 shows a derivative award (an 8% unsecured convertible promissory note) with N/A shares at $0.00 — no immediate common stock was issued and no cash value is reported on the Form.
• The note was issued under the issuer's 2025 financing and can convert into Series D-1 Convertible Preferred Stock at $2.862 per preferred share; each Series D-1 preferred share converts into 10 common shares. That implies an effective conversion price of $0.2862 per common share if converted through the preferred.

Key Details

• Transaction date: 2026-02-12; Form filed: 2026-02-17 (file appears to be filed 5 days after the transaction date; Form 4s are generally due within 2 business days).
• Transaction type/code: A = Award/acquisition of a derivative (convertible promissory note).
• Reported consideration: N/A shares @ $0.00 (derivative instrument — no immediate common shares issued).
• Conversion mechanics (footnotes): voluntary conversion of the note to Series D-1 Preferred at $2.862 per preferred share while the note is outstanding; automatic conversion of the note into Series D-1 occurs 12 months after the note issue date; Series D-1 Preferred automatically converts into common stock on December 31, 2028 unless earlier converted. Series D-1 → common ratio = 1 preferred : 10 common.
• Shares owned after transaction: no common-share amount reported on the Form 4 (the filing documents the derivative instrument, not issuance of common stock).

Context

• This filing documents a financing/derivative instrument rather than a straightforward buy or sale of common stock. It does not represent an immediate purchase or sale of common shares, though conversion would result in preferred and then common shares and could be dilutive.
• For retail investors: this is informational about potential future share issuance/conversion terms. Monitor future filings (additional Form 4s or company disclosures) for any actual conversion or common-share issuance.