John E. Herzog - 03 Jan 2022 Form 4 Insider Report for OLB GROUP, INC. (OLB)

Role
10%+ Owner
Signature
/s/ John E. Herzog
Issuer symbol
OLB
Transactions as of
03 Jan 2022
Transactions value $
-$115,215
Form type
4
Filing time
04 Feb 2022, 16:07:34 UTC
Previous filing
16 Dec 2021
Next filing
15 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OLB Common Stock Award +290,050 +14.34% 2,313,011 03 Jan 2022 Direct F1
transaction OLB Common Stock Sale -75,000 -3.24% 2,238,011 05 Jan 2022 Direct F2
transaction OLB Common Stock Sale -$115,215 -50,000 -2.23% $2.3 2,188,011 02 Feb 2022 Direct
holding OLB Common Stock 28,524 03 Jan 2022 By John E. Herzog Revocable Trust u/a 02/07/2014 F3
holding OLB Common Stock 2,700 03 Jan 2022 Held in an Individual Retirement Account

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
holding OLB Series A Convertible Preferred Stock 3,612 03 Jan 2022 Common Stock 401,333 $9 Direct F4
holding OLB Series A Warrants 802,875 03 Jan 2022 Common Stock 802,875 $9 Direct
holding OLB Series B Warrants 200,719 03 Jan 2022 Common Stock 200,719 $4.5 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares issued pursuant to the closing of a Stock Exchange Agreement dated January 3, 2022 (the "Agreement") between the Reporting Person and the Issuer. The value of the Shares was, for purposes of the Agreement, based on the closing trading price of the Company on October 1, 2021 (the date on which a third-party fairness opinion was issued), which was $4.02 per share.
F2 75,000 shares were sold for a total sale price of $1.00.
F3 These shares are held by John E Herzog, Trustee, John E. Herzog Revocable Trust U/A/D 02/07/2014. The Reporting Person serves as a trustee of the John E. Herzog Revocable Trust U/A/D 02/07/2014.
F4 The Series A Preferred Stock are convertible into shares of Common Stock of the registrant, at the option of the reporting person, on or after the date on which certain of the registrant's long term indebtedness is repaid in full and there is no further outstanding obligations regarding such indebtedness.