Form 4: SKYX Platforms Corp. President Steven Mark Schmidt Reports Stock Transactions
SEC Form 4
Steven Mark Schmidt, President of SKYX Platforms Corp., reports the disposal of shares to cover tax obligations and vesting of stock options and RSUs.
Summary
- Steven Mark Schmidt, the President of SKYX Platforms Corp., filed a Form 4 detailing changes in beneficial ownership.
- On December 31, 2024, Schmidt disposed of 5,928 shares of common stock at a price of $1.2 to satisfy tax withholding obligations related to vesting restricted stock units.
- On January 1, 2025, Schmidt disposed of 14,825 shares of common stock at a price of $1.16 for the same reason.
- Following these transactions, Schmidt beneficially owns 502,204 shares of common stock.
- Schmidt also holds options to purchase 450,000 shares of common stock at exercise prices of $0.9, $1.09 and $12.
- He also holds 20,000 shares of Series A-1 Preferred Stock, convertible into common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. 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, which are common and legal as long as they comply with SEC regulations. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions may have a minor dilutive effect on existing shareholders due to the issuance of shares upon option exercise and RSU vesting.
Key Dates
| Date | Description |
|---|---|
| 06/01/2021 | Date stock options were granted, vesting in four equal annual installments. |
| 12/20/2024 | 10,000 stock options vested. |
| 12/31/2024 | Disposal of 5,928 shares at $1.2 for tax obligations. |
| 01/01/2025 | Disposal of 14,825 shares at $1.16 for tax obligations; vesting of stock options. |
| 03/31/2025 | Beginning of quarterly vesting of 220,000 RSUs. |
| 01/01/2026 | Vesting of 50,000 RSUs. |
| 10/04/2026 | Date until which the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. |
| 10/04/2027 | Date from which the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning. |
| 09/15/2029 | Expiration date of some stock options. |
| 12/15/2029 | Expiration date of some stock options. |
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