Skaff Michael C 4

What Happened

• Michael C. Skaff (reported as a 10% owner; Managing Director of SP Manager LLC, manager of V-Co Investors 3 LLC) made multiple purchases and derivative acquisitions in Vivos Therapeutics (VVOS) on March 31, 2026. The transactions total roughly 5,350,746 shares at $1.34 per share, with an aggregate reported value of about $7,169,999.
• Transactions include a conversion of a $1.4M bridge promissory note into 1,044,777 shares (priced at $1.09 + $0.25 per share to meet Nasdaq minimum price rules) and other purchases/derivative acquisitions (noted as "Derivative" in the filing) that appear related to pre-funded warrants.

Key Details

• Transaction date(s): March 31, 2026; Filing date: April 2, 2026 (Form 4 filed timely).
• Price per share reported: $1.34.
• Reported line items (shares and reported value):
  • 1,044,777 shares — $1,400,001 (conversion of bridge note; F1)
  • 308,848 shares — $413,856 (purchase)
  • 429,957 shares — $576,142 (derivative)
  • 1,783,582 shares — $2,390,000 (derivative)
  • 1,783,582 shares — $2,390,000 (derivative)
• Shares owned after the transaction: Not specified in the provided filing details.
• Footnotes of note:
  • F1: Conversion of a $1.4M bridge promissory note into common stock at $1.09 + $0.25 (Nasdaq minimum).
  • F2: Skaff is MD of SP Manager LLC (manager of V-Co Investors 3 LLC) and disclaims beneficial ownership except for pecuniary interest.
  • F3: Pre-Funded Warrant term ends on complete exercise (derivative items relate to warrants).
• Transaction code: P = Purchase (including derivative-related acquisitions).

Context

• These are purchases/conversions (a buy/ownership-increasing activity), which retail investors often view as a stronger signal than routine sales, though filings do not state intent or future plans.
• The filing includes derivative-related entries (pre-funded warrants/convertible note conversion). Pre-funded warrants are effectively nearly-exercised claims on common shares and typically require a small remaining payment to convert into full shares.
• As a reported 10% owner and manager of the investing LLC, Skaff’s report reflects institutional/affiliate activity; per F2, he disclaims beneficial ownership beyond his pecuniary interest.