Pershing Edward 4

What Happened

• Edward Pershing, CEO and director of Provectus Biopharmaceuticals (PVCT), was reported as the recipient of a derivative award on 2026-05-28: an 8% unsecured convertible promissory note (the "Note"). The Form 4 reports the grant as a derivative acquisition (code A) with shares listed as N/A and $0.00 per share because the instrument is a debt/security, not immediate common stock.
• No immediate common shares were issued. The Note can be voluntarily converted into Series D‑1 Convertible Preferred Stock at $2.862 per preferred share (automatic conversion of the Note occurs 12 months after issuance). Each Series D‑1 preferred is convertible into 10 shares of common stock, and Series D‑1 will automatically convert into common on December 31, 2028 unless converted earlier.

Key Details

• Transaction date: 2026-05-28; Form filed: 2026-05-29 (appears timely).
• Reported as a derivative acquisition (Grant/Award); shares reported as N/A and price $0.00 because this is a convertible note, not an immediate equity grant.
• Footnote F1: Note is 8% unsecured, issued under the issuer's 2025 financing; voluntary conversion allowed while outstanding; auto-converts 12 months after issue.
• Footnote F2: Each Series D‑1 preferred converts into 10 common shares; Series D‑1 auto-converts to common on 12/31/2028.
• Shares owned after transaction: no additional common shares recorded in this filing (conversion would create preferred then common shares per terms).

Context

• This filing documents a financing/compensation-related convertible debt grant, not a market buy or sale; it does not indicate immediate insider buying or selling of common stock.
• If and when the Note converts (voluntarily or automatically), it will create preferred shares and ultimately common shares, which could dilute existing common shareholders. Retail investors should watch for future conversion or issuance filings that quantify resulting share counts.