DOUGLAS POLINSKY - 23 Nov 2022 Form 4/A - Amendment Insider Report for Mill City Ventures III, Ltd (MCVT)

Role
Chief Executive Officer, Director
Signature
/s/ Douglas M. Polinsky
Issuer symbol
MCVT
Transactions as of
23 Nov 2022
Net transactions value
$0
Form type
4/A - Amendment
Filing time
01 Dec 2022, 20:57:11 UTC
Date Of Original Report
25 Nov 2022
Previous filing
23 Sep 2022
Next filing
04 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MCVT Common Stock 30,850 23 Nov 2022 By Great North Capital Corp. F1
holding MCVT Common Stock 128,915 23 Nov 2022 By Lantern Advisers LLC F2
holding MCVT Common Stock 262,763 23 Nov 2022 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MCVT Non-qualified stock options Award $0 +250,000 $0.000000 250,000 23 Nov 2022 Common stock 250,000 $2.12 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 A Minnesota corporation of which the reporting person is the Chief Executive Officer.
F2 A Minnesota limited liability company of which the reporting person is a member and manager. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F3 Of the reported amount, 10,000 common shares are held subject to forfeiture pursuant to a restricted stock agreement with the issuer under which all such shares are to vest, and forfeiture restrictions lapse, on January 24, 2023.
F4 Options were issued to the reporting person pursuant to an award approved, without restrictions, by the Compensation Committee of the Board of Directors of the issuer on November 23, 2022. The exercise price is the closing market price of the common stock on the date of the award.
F5 The options are not exercisable by their terms unless and until the related equity compensation plan shall have been approved by the issuer's shareholders.

Remarks:

This amendment is being filed to correct a reporting error in the original filing indicating that the award made on 11/23/2022 was a stock award. Accordingly, the relevant row in Table I has been removed and the corrected information now appears in Table II.