Form 4: Owlet Inc. CEO Kurt Workman Converts Preferred Stock to Common Stock
SEC Filing
Owlet, Inc. CEO Kurt Workman converted 300 shares of Series A Convertible Preferred Stock into 43,731 shares of common stock on August 20, 2024.
Summary
- On August 20, 2024, Kurt Workman, CEO of Owlet, Inc., converted 300 shares of Series A Convertible Preferred Stock into 43,731 shares of common stock.
- The conversion occurred pursuant to the terms of an Investment Agreement dated February 17, 2023.
- The exchange ratio was 145.7726, adjusted to reflect a 1-for-14 reverse stock split completed on July 7, 2023.
- Following the transaction, Workman directly owns 250,254 shares of Owlet, Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a stock conversion, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and provides transparency regarding the holdings of Owlet's CEO.
Stakeholder Impact
- The conversion of preferred stock to common stock may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/17/2023 | Date of the Investment Agreement between Owlet, Inc. and Kurt Workman. |
| 07/07/2023 | Date of Owlet, Inc.'s 1-for-14 reverse stock split. |
| 08/20/2024 | Date of Kurt Workman's conversion of Series A Convertible Preferred Stock to Common Stock. |
| 08/22/2024 | Date of signature of the Form 4 filing. |
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