Pershing Edward 4

What Happened
Edward Pershing, CEO and director of Provectus Biopharmaceuticals (PVCT), received a derivative award on 2026-02-19 reported as a grant/other acquisition (no immediate common shares or cash reported). The filing lists the award as N/A shares at $0.00 because the instrument is an 8% unsecured convertible promissory note (the “Note”) issued under the issuer’s 2025 financing, not an outright common-stock grant.

Key Details

• Transaction date: 2026-02-19; Form 4 filed 2026-02-23 (filing appears timely).
• Instrument: 8% unsecured convertible promissory note (derivative award); no immediate common shares or dollar value listed on the Form 4 (N/A).
• Conversion terms (footnotes): the Reporting Person may convert outstanding principal and interest of the Note into Series D‑1 Convertible Preferred Stock at $2.862 per preferred share; the Note automatically converts into Series D‑1 Preferred 12 months after issuance.
• Preferred-to-common conversion: each Series D‑1 Preferred share is convertible into 10 shares of common stock; Series D‑1 Preferred will automatically convert into common on Dec 31, 2028 unless earlier converted.
• Shares owned after transaction: not disclosed on the filing.

Context
This was not a purchase or sale of common stock but the grant/issuance of a convertible debt instrument that can become preferred stock and, later, common shares if converted. Because the Form 4 reports a derivative award (N/A common shares and $0.00 per share), there is no immediate change in common‑share ownership or sale proceeds to interpret — future conversion would create preferred shares (then common) per the stated conversion ratios and prices.