Shafer Matthew T 4
4 · Cardiff Lexington Corp · Filed Mar 6, 2024
Insider Transaction Report
Form 4
Shafer Matthew T
Chief Financial Officer
Transactions
- Other
Series I Preferred Stock
2024-01-31+5,000→ 5,000 totalFrom: 2024-01-31→ Common Stock
Footnotes (1)
- [F1]On January 31, 2024, the Reporting Person received 5,000 shares of Series I Preferred Stock as partial compensation for the Reporting Person's services as Chief Financial Officer of the Issuer. Each share of Series I Preferred Stock is convertible into such number of shares of Common Stock as is determined as follows: (i) if the closing market price of the Common Stock on the principal trading market on which the Common Stock is then traded or quoted is less than $4.00 per share, then each share of Series I Preferred Stock shall be convertible into a number of shares of Common Stock equal to two (2) times the stated value ($4.00 per share), divided by such closing market price on the date of conversion; or (ii) if such closing market price is equal to or greater than $4.00 per share, then each share of Series I Preferred Stock shall be convertible into two (2) shares of Common Stock. The Series I Preferred Stock has no expiration date.