SOKOLOW LEONARD J 4
4 · SKYX Platforms Corp. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
SKYX CEO Leonard Sokolow Sells 20,874 Shares to Cover Taxes
What Happened Leonard J. Sokolow, CEO of SKYX Platforms Corp. (SKYX), disposed of 20,874 shares on March 12, 2026. The shares were reported at $1.91 each for a total value of $39,869. The transaction is coded "F" on the Form 4, indicating the shares were used to pay an exercise price or tax liability (i.e., withholding to cover taxes), not an open-market sale for investment purposes.
Key Details
- Date and price: March 12, 2026 — 20,874 shares at $1.91 per share (total $39,869).
- Transaction code: F = payment of exercise price or tax liability.
- Footnote: F8 states the reporting person elected to satisfy tax withholding by directing the issuer to withhold shares otherwise issuable upon vesting of RSUs.
- Shares owned after transaction: Not specified in the filing.
- Timeliness: Filing date and period of report are March 12, 2026 — appears to be filed timely (no late-filing flag).
Context This was a tax-withholding/share-for-tax transaction (common when RSUs vest or options are exercised), meaning shares were surrendered to cover tax obligations rather than sold on the open market as a liquidity or investment decision. Such transactions are typically routine and do not necessarily signal insider sentiment about the company's outlook.
Insider Transaction Report
- Tax Payment
Common Stock, no par value
[F8][F9]2026-03-12$1.91/sh−20,874$39,869→ 905,743 total
- 150,000
Stock Option (right to buy)
[F3]Exercise: $3.00From: 2017-06-30Exp: 2027-04-19→ Common Stock, no par value (150,000 underlying) - 150,000
Stock Option (right to buy)
[F3]Exercise: $4.00From: 2017-12-31Exp: 2027-04-19→ Common Stock, no par value (150,000 underlying) - 100,000
Stock Option (right to buy)
[F3]Exercise: $12.00From: 2021-12-31Exp: 2026-12-31→ Common Stock, no par value (100,000 underlying) - 17,500
Stock Option (right to buy)
[F3]Exercise: $12.34From: 2022-03-31Exp: 2027-03-11→ Common Stock, no par value (17,500 underlying) - 17,500
Stock Option (right to buy)
[F3]Exercise: $3.28From: 2023-04-30Exp: 2028-04-05→ Common Stock, no par value (17,500 underlying) - 450,000
Stock Option (right to buy)
[F4]Exercise: $1.58From: 2023-09-12Exp: 2028-09-12→ Common Stock, no par value (450,000 underlying) - 150,000
Stock Option (right to buy)
[F5]Exercise: $1.26From: 2025-03-27Exp: 2030-03-27→ Common Stock, no par value (150,000 underlying) - 150,000
Stock Option (right to buy)
[F6]Exercise: $2.15From: 2026-01-01Exp: 2030-12-15→ Common Stock, no par value (150,000 underlying) Subordinated Convertible Promissory Note
[F1][F2]Exercise: $3.00Exp: 2025-05-16→ Common Stock, no par value- 10,000
Series A-1 Preferred Stock
[F7]→ Common Stock, no par value (208,334 underlying)
Footnotes (9)
- [F1]The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at the holder's discretion at the conversion price of $3.00 per share.
- [F2]Represents the principal amount of the convertible note and excludes interest that may accrue. Beginning January 1, 2024, the note accrues interest at a rate of 10.0% per annum, which is payable annually, in cash or common stock, at the holder's discretion. Prior to such date, the note accrued interest at a rate of 6.0% per annum.
- [F3]Fully exercisable.
- [F4]Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
- [F5]Options vest in three equal annual installments, beginning on March 27, 2025, the grant date, subject to continued employment through the vesting date.
- [F6]Options vest in three equal annual installments, beginning on January 1, 2026, subject to continued employment through the vesting date.
- [F7]The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share and is convertible at any time, at the holder's option, into shares of the issuer's common stock at an adjusted conversion price of $1.20 per share (or approximately 20.83 shares of common stock for each share of Preferred Stock). Until October 4, 2026, the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. In addition, the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027. The Preferred Stock has no expiration date.
- [F8]The reporting person has elected to satisfy his tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") by directing the issuer to withhold shares otherwise issuable upon vesting of the grants.
- [F9]Includes 180,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: (i) 80,000 RSUs, which will vest in one installment of 50,000 on September 12, 2026 and one installment of 30,000 on March 12, 2027, and (ii) 100,000 RSUs, which will vest in two equal annual installments beginning on January 1, 2027.