David Welch - 01 Sep 2021 Form 4 Insider Report for AGRIFORCE GROWING SYSTEMS LTD. (AGRI)

Role: Director
Signature: /s/ David Welch
Issuer symbol: AGRI
Transactions as of: 01 Sep 2021
Net transactions value: +$34,885
Form type: 4
Filing time: 21 Dec 2022, 16:12:07 UTC
Previous filing: 09 Jul 2021
Next filing: 30 Sep 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGRI	Common Stock	Award	$34,885	+14,908	+61%	$2.34^*	39,292	01 Sep 2021	Direct

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	AGRI	Stock options to Purchase Shares of Common Stock						58,140	01 Sep 2021	Stock options	24,477	$1.14	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares subject to such option vest and become exercisable annually in substantially equal installments over a three-year period, with the first tranche to be vested on the three-month anniversary of date of grant of November 18, 2022, subject to the Reporting Person's continuous service to the Issuer on each such date.
F2	If permitted by the policies of any stock exchange on which the Issuer may be listed from time to time, the stock option may be exercised by means of a "cashless exercise", in which event the Issuer shall issue to the holder the net number of common shares determined based on the formula presented in the exhibit to the stock option certificate.