Form 4: Phillip Frost Acquires 21,930 Shares of NocoCo Technologies Inc/MD/ Through Advisory Services

Phillip Frost, MD, acquired 21,930 shares of NocoCo Technologies Inc/MD/ common stock on September 11, 2024, as consideration for advisory services.

Summary

• On September 11, 2024, Phillip Frost acquired 21,930 shares of NocoCo Technologies Inc/MD/ common stock.
• The shares were acquired as consideration for advisory services provided under a Stock Purchase Agreement dated September 11, 2023.
• The price per share was $0.
• Following the transaction, Phillip Frost indirectly owns 1,271,930 shares through Frost Gamma Investments Trust.
• Frost disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a standard transaction related to compensation for advisory services. There is no indication of positive or negative implications for the company.

Positives

• The acquisition of shares demonstrates Phillip Frost's continued involvement with NocoCo Technologies Inc/MD/.

Management Comments

• Phillip Frost disclaims beneficial ownership of the securities held by Frost Gamma Investments Trust except to the extent of any pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Related Party Transactions

• The share acquisition is related to advisory services provided by Phillip Frost pursuant to a Stock Purchase Agreement between the Issuer and Frost Gamma Investments Trust.

Stakeholder Impact

• The transaction increases Phillip Frost's stake in the company, which could be viewed positively by shareholders.

Key Dates