SEC Form 4 · accession 0001185185-18-001348
Mitesco, Inc. · MITI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Louis George Deluca Jr.
Officer — C.O.O.
Period of report
Jul 24, 2018
Accepted (ET)
Aug 6, 2018 · 10:22 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000802257
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Common StockF1 | Jul 24, 2018 | A | 369,500 | $0.08 | A | 1,446,423 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The executive was awarded a total of 500,000 shares of restricted common stock when joining the Company. All of the shares are subject to certain reverse vesting conditions. As of the date of this filing the executive has fully earned 200,000 of those shares. The executive agreed to convert $60,000 of accrued salaries into stock as of (January 29, 2018) at a price of $.104 - the closing price on the date when the agreement to convert the amounts owed was completed, for a new issuance of 576,923. The executive further agreed to convert $29,560 of accrued salaries into stock as of (July 24, 2018) at a price of $.08 - the closing price on the date when the agreement to convert the amounts owed was completed, for a new issuance of 369,500. As a result, the executive now owns 1,146,423 share that are fully vested, and another 300,000 shares that remain subject to certain performance requirements under a reverse vesting agreement.