SEC Form 4 · accession 0001144204-19-008586
SCWorx Corp. · WORX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marc Sanford Schessel
Officer — CEO · Director · 10% Owner
Period of report
Feb 13, 2019
Accepted (ET)
Feb 15, 2019 · 11:37 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001674227
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units (common stock)F2,F6 | Feb 13, 2019 | A | 75,000 | $0.00 | A | 75,000 | D | |
| Restricted Stock Units (common stock)F3,F6 | Feb 13, 2019 | A | 25,000 | $0.00 | A | 25,000 | D | |
| Restricted Stock Units (common stock)F4,F6 | Feb 13, 2019 | A | 25,000 | $0.00 | A | 25,000 | D | |
| Restricted Stock Units (common stock)F5,F6 | Feb 13, 2019 | A | 25,000 | $0.00 | A | 25,000 | D | |
| Common Stock, $.001 par value | holding | — | — | — | 1,032,603 | D | ||
| Common Stock, $.001 par valueF1 | holding | — | — | — | 197,820 | I | See Note |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Owned of record by Greg Lewis Stivers, Trustee, TSS 2019 Irrevocable Trust. These shares are held in a trust for the benefit of the reporting person's spouse, who is not a trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of. Section 16 or for any other purpose.
- F2These Restricted stock Units ("RSUs") vest in quarterly installments over three years, commencing August 15, 2019.
- F3These RSUs vest only if the Issuer obtains $10M in new recurring revenue on or before 08/15/20.
- F4These RSUs vest if and when the Issuer's stock price attains a volume weighted average price ("VWAP") of $20 per share for 15 consecutive trading days.
- F5These RSUs vest if and when the Issuer's stock price attains a VWAP of $40 per share for 15 consecutive trading days.
- F6The Issuer granted these RSUs to the reporting person in consideration for services to be rendered to the Issuer.