SEC Form 4 · accession 0001685883-17-000002
SKYX Platforms Corp. · SKYX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark J Wells
Officer — President
Period of report
Sep 1, 2016
Accepted (ET)
Mar 29, 2017 · 5:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001598981
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, no par valueF1 | Sep 1, 2016 | P | 150,000 | $2.70 | A | 250,000 | D | |
| Common Stock, no par valueF2 | Sep 1, 2016 | A | 1,145,000 | — | A | 1,395,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF1 | $3.00 | Sep 1, 2016 | A | 750,000 | A | Jan 1, 2017 | Jan 1, 2022 | Common Stock, no par value | 750,000 | 750,000 | D |
Explanation of responses
- F1As part of Mr. Wells' Executive Employment Agreement, as disclosed on the Company's Form 8-K dated November 8, 2016, Mr. Wells purchased 150,000 shares of the Company's common stock at $2.70 per share. Mr. Wells was then issued a warrant to purchase 750,000 shares of the Company's common stock at an exercise price of $3.00 per share.
- F2Pursuant to the Executive Employment Agreement, Mr. Wells was granted 120,000 shares of common stock as a sign-on bonus, and such shares vest on January 1, 2018. Also pursuant to the Executive Employment Agreement, Mr. Wells was granted 1,025,000 shares of common stock as additional compensation, and such shares vest on January 1, 2019.