Form 4: Greenwave Technology Solutions CEO Danny Meeks Reports Share Transactions

Greenwave Technology Solutions CEO Danny Meeks reported the conversion of preferred stock and holdings of common stock through a wholly-owned entity.

Summary

• Danny Meeks, CEO of Greenwave Technology Solutions, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report indicates that Meeks converted 450,000 shares of Series A-1 Preferred Stock into common stock.
• Meeks directly holds 29,322 shares of common stock, including 5,484 shares underlying warrants.
• Through DWM Properties LLC, an entity he wholly owns, Meeks holds 1,745,693 shares of common stock and 450,000 shares of Series A-1 Preferred Stock.
• The Series A-1 Preferred Stock is convertible into common stock, with the conversion rate based on a percentage of outstanding common stock at the time of conversion, subject to a maximum of 45% of the issuer's authorized common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate a positive or negative sentiment. It is a factual report of transactions.

Industry Context

This filing is a routine disclosure of insider transactions, which is a standard practice for publicly traded companies. It provides transparency into the ownership changes of key personnel.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for all publicly traded companies in the US, ensuring transparency of insider transactions.
• The reporting of beneficial ownership through entities like DWM Properties LLC is common practice for executives and major shareholders.
• The conversion of preferred stock to common stock is a typical financial transaction, often used for capital structure adjustments or as part of investment agreements.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership of the company's stock by its CEO.
• The conversion of preferred stock to common stock could potentially impact the overall share structure of the company.

Key Dates

Keywords

Greenwave Technology Solutions, GWAV, Danny Meeks, Form 4, Beneficial Ownership, Series A-1 Preferred Stock, Common Stock, DWM Properties LLC, Securities Transaction, Insider Trading