Form 4: LogicMark Director John Pettitt Acquires Options as Compensation

Director John Pettitt received stock options as compensation for board service at LogicMark, Inc.

Summary

• On October 1, 2024, John Pettitt, a director of LogicMark, Inc. (LGMK), acquired 64,516 options to purchase common stock.
• These options were granted as compensation for his services as a board member for the quarter ended September 30, 2024.
• The exercise price of the options is $0.155.
• The options became exercisable on October 1, 2024, and expire on September 30, 2034.
• Following the transaction, Pettitt directly owns 64,516 derivative securities.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine compensation practice. It's neither overwhelmingly positive nor negative.

Positives

• The granting of options to a director aligns their interests with those of the shareholders.
• The options serve as compensation for board service.

Industry Context

This is a standard practice for compensating board members in publicly traded companies.

Comparison to Industry Standards

• Granting stock options to board members is a common practice among publicly listed companies to align their interests with shareholders.
• The specific number of options and exercise price would be determined by the company's compensation policy and the director's role and responsibilities.
• Comparable companies in the technology or healthcare sectors often use similar compensation structures for their board members.

Key Dates

Keywords

LogicMark, John Pettitt, stock options, director compensation, Form 4, LGMK, beneficial ownership