PVCT — Pershing Edward (10% Owner) Converts Note into 13,216 Series D‑1 Shares

What Happened

• Pershing Edward, listed as a 10% owner of Provectus Biopharmaceuticals (PVCT), reported the conversion of a 2025 unsecured convertible promissory note into 13,216 shares of Series D‑1 Convertible Preferred Stock on September 11, 2026.
• The Form 4 reports the acquired derivative as 13,216 shares at $0.00 per share (a non‑cash conversion). Footnotes state the note conversion price used when the note converted was $2.862 per Series D‑1 share, implying an economic value of roughly $37,824 for the issued preferred shares. Each Series D‑1 preferred share is convertible into 10 common shares (i.e., these 13,216 preferred shares represent the potential for 132,160 common shares).

Key Details

• Transaction date: 2026-09-11. Transaction code: M (exercise/conversion of a derivative).
• Reported price on Form 4: $0.00 per share (non‑cash conversion). Conversion price referenced in footnotes: $2.862 per Series D‑1 share (used to convert the 2025 Note).
• Shares acquired: 13,216 Series D‑1 Convertible Preferred Stock. Shares disposed: N/A (the filing shows a conversion event with no cash proceeds).
• Post‑transaction common share equivalent: each Series D‑1 converts 10:1 to common; 13,216 preferred → 132,160 potential common shares (subject to conversion timing).
• Notable footnotes: F1–F4 explain the 10:1 conversion ratio to common, automatic conversion date of 12/31/2028 (unless earlier converted), and that the 2025 Note automatically converted into the Series D‑1 on 9/11/2026.
• Timeliness: Period of Report and filing date both 2026-09-11 — filing appears timely.

Context

• This was a debt-to-equity conversion (promissory note converted into preferred stock), not an open‑market purchase or sale. Form 4 lists the transaction as a derivative conversion; the $0.00 per-share reporting is standard for conversions that are settled by exchanging debt for securities rather than cash.
• As a 10% owner (institutional reporting person), this action reflects a financing/settlement move rather than typical insider buying or selling for personal investment reasons. The issued Series D‑1 preferred stock will automatically convert into common stock on 12/31/2028 unless converted earlier under the terms described.