Form 4: John Paul DeJoria Reports Transaction in REGO Payment Architectures, Inc. (RPMT)

John Paul DeJoria, a director and 10% owner of REGO Payment Architectures, Inc., reports a transaction involving Series B Cumulative Convertible Preferred Stock on May 16, 2024.

Summary

• On May 16, 2024, John Paul DeJoria, a director and 10% owner of REGO Payment Architectures, Inc. (RPMT), engaged in a transaction involving Series B Cumulative Convertible Preferred Stock.
• DeJoria acquired 38,889 shares of Series B Cumulative Convertible Preferred Stock.
• These shares are convertible into common stock at a rate of 100 shares of common stock per share of preferred stock, with a conversion price of $0.90 per share, subject to anti-dilution adjustments.
• The conversion is limited to ensure DeJoria's beneficial ownership does not exceed 4.99% of the Issuer's Common Stock, although this percentage can be adjusted with written notice.
• Following the reported transaction, DeJoria beneficially owns 164,446 shares of Series B Preferred Stock through various trusts and direct holdings.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of insider transactions, providing transparency to the market regarding the holdings and activities of company insiders. It is standard practice for directors and officers to report changes in their beneficial ownership of company securities.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider activity.
• It may influence investor perception of the company depending on the size and nature of the transaction.

Key Dates