READ IAN C 4
4 · Volcon, Inc. · Filed Jul 21, 2025
Insider Transaction Report
Form 4
Volcon, Inc.VLCN
READ IAN C
Director
Transactions
- Award
Stock options (right to buy)
2025-07-17+298,802→ 298,802 totalExercise: $10.00Exp: 2035-07-17→ Common Stock (298,802 underlying) - Award
Common Stock
2025-07-21$10.00/sh+30,000$300,000→ 30,000 total(indirect: See Footnote)
Footnotes (3)
- [F1]The shares of common stock were purchased by the Reporting Person in the Issuer's recently announced private placement with certain accredited and institutional investors, which closed on July 21, 2025.
- [F2]The shares of common stock were purchased by the Ian Charles Read Revocable Trust the ("Trust"). The Reporting Person is the trustee of the trust and may be deemed to have sole voting and dispositive power over the shares held by the Trust. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- [F3]The stock options vest based upon the daily volume weighted average price ("VWAP") of the Issuer's common stock, vesting as to 20% of the underlying shares of common stock upon the VWAP reaching $10 and then in incremental 20% installments until becoming fully vested upon a VWAP of $30. All vesting is subject to the approval by the Issuer's stockholder of a new stock option plan.