Pershing Edward 4

What Happened
Edward Pershing, CEO and director of Provectus Biopharmaceuticals (PVCT), reported the conversion/exercise of a derivative on March 20, 2026, resulting in the acquisition of 49,067 shares of Series D‑1 Convertible Preferred Stock. The Form 4 lists the derivative acquisition at $0.00 (exercise/conversion), but the filing footnotes state the 2025 convertible promissory note converted into Series D‑1 shares at $2.862 per share — an implied value of about $140,430. These are preferred shares, not common stock.

Key Details

• Transaction date: March 20, 2026. Form type: Form 4 filed same day (timely).
• Reported consideration on Form 4: $0.00 per derivative share (exercise/conversion code M); conversion price per footnote: $2.862 per Series D‑1 share.
• Shares acquired: 49,067 Series D‑1 Convertible Preferred Stock. Disposition line in the filing shows an N/A derivative disposal entry (reporting artifact related to conversion).
• Post-transaction common share equivalent: each Series D‑1 converts into 10 common shares (footnote) → 49,067 pref ≈ 490,670 common shares if converted.
• Source of conversion: the outstanding 8% 2025 convertible promissory note automatically converted into Series D‑1 on March 20, 2026 (per footnotes).
• Shares owned after transaction: not specified in the excerpt of the filing provided.

Context
This was a conversion of debt into equity (preferred stock) — an acquisition on the Form 4, not an open‑market purchase of common stock. The Series D‑1 preferred will automatically convert into common stock on December 31, 2028 (unless earlier converted), so this transaction increases potential future common‑share dilution. The filing is factual; it reports the mechanics and conversion terms but does not indicate the insider’s intent.