Pershing Edward 4

What Happened
Edward Pershing, CEO and a director of Provectus Biopharmaceuticals (PVCT), was granted (acquired) a derivative interest on Feb 26, 2026 in the form of an 8% unsecured convertible promissory note. The Form 4 reports this as an award/acquisition of a derivative (no common shares immediately issued; share count listed as N/A). The note can convert into Series D‑1 Convertible Preferred Stock at $2.862 per preferred share; each Series D‑1 preferred is convertible into 10 shares of common stock.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-02-27 (timely).
• Reported as an award/acquisition of a derivative (code A); Form 4 lists N/A shares acquired and $0.00 per share (no immediate common shares).
• Note specifics (footnotes): 8% unsecured convertible promissory note issued under the Issuer’s 2025 financing. Voluntary conversion to Series D‑1 preferred can occur any time while the note is outstanding; the note automatically converts to Series D‑1 preferred 12 months after issuance. Conversion price to Series D‑1 preferred = $2.862 per preferred share. Each Series D‑1 preferred converts into 10 common shares; the Series D‑1 will automatically convert into common on Dec 31, 2028 unless earlier converted.
• Implied common conversion price (if preferred converted and then converted into common): $2.862 / 10 = $0.2862 per common share (implicit calculation based on stated ratios).
• Shares owned after the transaction are not specified on the Form 4.

Context
This filing documents acquisition of a convertible debt instrument (a derivative), not an immediate purchase of common stock. Such instruments give the insider the potential to receive preferred stock — and later common shares — under set conversion terms; they do not necessarily indicate an immediate change in market exposure. The filing appears timely (filed the next day).