Form 4: Global Tech Industries Group Executive Frank Benintendo Cancels 3,323,565 Shares

Frank Benintendo, a Director and Secretary of Global Tech Industries Group, canceled 3,323,565 shares of the company's common stock on June 11, 2024, according to a recent SEC filing.

Summary

• On June 11, 2024, Frank Benintendo, a Director and Secretary of Global Tech Industries Group, Inc. (GTII), canceled 3,323,565 shares of the company's common stock.
• The cancellation was executed under a Stock Cancellation Agreement between Benintendo and GTII.
• The canceled shares, with a par value of $0.001 each, were previously issued to Benintendo around January 25, 2023.
• Following the transaction, Benintendo beneficially owns 5,369,004 shares of GTII.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock cancellation, which is a neutral event. The sentiment is neither positive nor negative.

Industry Context

Stock cancellations can occur for various reasons, including simplification of the capital structure or as part of an agreement between the company and a shareholder.

Stakeholder Impact

• The stock cancellation may affect the company's capital structure and potentially impact shareholder equity.

Key Dates

Keywords

Stock Cancellation, Beneficial Ownership, Frank Benintendo, Global Tech Industries Group, GTII, SEC Form 4