SEC Form 4 · accession 0001437749-16-034058

MIKROS SYSTEMS CORP · MKRS.OB

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — President and CFO · Director · 10% Owner

Period of report

Jun 16, 2016

Accepted (ET)

Jun 20, 2016 · 12:25 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000317340

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Redeemable Series C Preferred Stock^F1	Jun 16, 2016	S$0	5,000	—	D	0	D
Series D Preferred Stock^F1	Jun 16, 2016	S$0	138,000	—	D	0	D
Common Stock^F1	Jun 16, 2016	P$0	2,533,168	—	A	6,045,235	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Convertible Preferred Stock^F1,F2	—	Jun 16, 2016	S	50,000	D	—	—	Convertible Preferred Stock	50,000	0	D
Series B Convertible Preferred Stock^F1,F3	—	Jun 16, 2016	S	649,925	D	—	—	Series B Convertible Preferred Stock	649,925	0	D

F1The reporting person entered into an Exchange Agreement with the Issuer on June 16, 2016 (the "Exchange Agreement"). Under the Exchange Agreement, certain shares of preferred stock were exchanged for cash and shares of common stock as follows: (i) each share of Convertible Preferred Stock was exchanged for $0.165 in cash and 1.95 shares of common stock; (ii) each share of Series B Convertible Preferred Stock was exchanged for $0.0825 in cash and 2.43 shares of common stock; (iii) each share of Redeemable Series C Preferred Stock was exchanged for $2.708 in cash and 31.27 shares of common stock; and (iv) each share of Series D Preferred Stock was exchanged for $0.36232 in cash and 5.072464 shares of common stock.
F2Each share of Convertible Preferred Stock was convertible at any time into one share of common stock, and had no expiration date.
F3Each share of Series B Convertible Preferred Stock was convertible at any time into three shares of common stock, and had no expiration date.