David Welch - 12 Sep 2023 Form 4 Insider Report for AGRIFORCE GROWING SYSTEMS LTD. (AGRI)

Role: Director
Signature: /s/ David Welch
Issuer symbol: AGRI
Transactions as of: 12 Sep 2023
Transactions value $: $354,953
Form type: 4
Filing time: 30 Sep 2025, 19:56:59 UTC
Previous filing: 21 Dec 2022
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Welch David Ryan	Director	500 SOUTH GRAND AVENUE,, SUITE 1800, LOS ANGELES	/s/ David Welch	30 Sep 2025	0001871874

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGRI	Common Shares	Award	$199,999	+84,388	+647%	$2.37	97,421	18 Sep 2025	Direct	F1, F2, F3
transaction	AGRI	Common Shares	Award	$153,529	+13,022	+15%	$11.79	97,421	21 May 2025	Direct	F1, F3, F4, F5
transaction	AGRI	Common Shares	Purchase	$1,423	+11	+0.01%	$129.42^*	97,421	17 May 2024	Direct	F3, F6, F7

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	AGRI	Stock Options	Award	$0	+3	+150%	$0	5	12 Sep 2023	Common Shares	3	$4,050	Direct	F8, F9, F10, F11
holding	AGRI	Stock Options						5	12 Sep 2023	Common Shares	1	$51,300	Direct	F9, F12, F13, F14
holding	AGRI	Stock Options						5	12 Sep 2023	Common Shares	1	$315,000	Direct	F9, F15, F16, F17

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

Explanation of Responses:

Id	Content
F1	Represents Common Shares granted to the Reporting Person that are restricted and subject to a lockup agreement entered into by the Reporting Person in January 2025. Pursuant to the lockup agreement, the Director may not sell any Common Shares owned by the Reporting Person for one year from January 16, 2025 (subject to the ability to sell shares received by each as the result of an employment agreement at any time).
F2	Equals the per share closing price on September 17, 2025.
F3	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025.
F4	As adjusted for a reverse split that occurred on July 30, 2025. The original grant was 117,206 Common Shares.
F5	As adjusted for a reverse split that occurred on July 30, 2025. The original price per share was $1.31.
F6	As adjusted for a reverse split that occurred on (i) December 6, 2024 and (ii) July 30, 2025. The original grant was 9,900 Common Shares.
F7	As adjusted for a reverse split that occurred on (i) December 6, 2024 and (ii) July 30, 2025. The original price per share was $0.1515.
F8	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original exercise price was $0.09.
F9	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.
F10	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original grant was 156,876 Stock Options.
F11	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 September 12, 2023, subject to the Reporting Person's continuous service to the Issuer on each such date.
F12	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original exercise price was $1.14.
F13	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.
F14	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original grant was 24,447 Stock Options.
F15	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original exercise price was $7.00.
F16	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 May 31, 2021, subject to the Reporting Person's continuous service to the Issuer on each such date.
F17	As adjusted for the following: (i) a 1 for 50 reverse split that occurred on October 12, 2023, (ii) a 1 for 100 reverse split that occurred on December 6, 2024, and (iii) a 1 for 9 reverse split that occurred on July 30, 2025. The original grant was 24,642 Stock Options.