Form 4: SKYX Platforms Corp. President Steven Mark Schmidt Reports Stock Transaction
SEC Form 4
Steven Mark Schmidt, President of SKYX Platforms Corp., reports the disposition of 8,909 shares of common stock to cover tax obligations, while maintaining ownership of 119,934 shares and various stock options.
Summary
- On June 1, 2024, Steven Mark Schmidt, President of SKYX Platforms Corp., reported a transaction involving the disposition of 8,909 shares of common stock.
- The shares were disposed of at a price of $0.91 per share.
- This transaction was to satisfy tax withholding obligations related to the vesting of a prior restricted stock grant.
- Following the transaction, Schmidt beneficially owns 119,934 shares of SKYX Platforms Corp.
- Schmidt also holds options to purchase 60,000 shares at $0.10, 60,000 shares at $6.00, and 100,000 shares at $12.00.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to an insider stock transaction, which is neutral in sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects an insider's stock disposition to cover tax obligations, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 10/01/2019 | Date options were granted that vest in three equal annual installments of 20,000 shares beginning on the first anniversary of the date of grant. |
| 06/01/2021 | Date options were granted that vest in four equal annual installments of 25,000 shares beginning on the date of grant. |
| 06/01/2024 | Date of the reported stock transaction where 8,909 shares were disposed of to cover tax obligations. |
| 06/04/2024 | Date of signature for the Form 4 filing. |
| 10/01/2024 | Expiration date for stock options with exercise prices of $0.1 and $6. |
| 06/01/2026 | Expiration date for stock options with an exercise price of $12. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.