George Michael Matus - 01 Sep 2021 Form 3 Insider Report for Red Cat Holdings, Inc. (RCAT)

Role
CEO of Teal Drones subsidiary
Signature
/s/ George Matus
Issuer symbol
RCAT
Transactions as of
01 Sep 2021
Transactions value $
$0
Form type
3
Filing time
05 Oct 2021, 15:57:15 UTC
Next filing
06 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding RCAT Common Stock 400K 01 Sep 2021 Direct F1

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 RCAT Common Stock 01 Sep 2021 Common Stock 600K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vesting 25% on August 31, 2021 and 25% on the 12 months anniversary of issuance, and 6.25% quarterly thereafter until fully vested, provided 50% shall vest in 12 months if the trailing 12 month's revenue is greater than $10 million and 100% shall vest in 24 months if the trailing 12 months revenue is greater than $15 million.
F2 Pursuant to Employment Agreement dated as of September 1, 2021, the Reporting Person will be issued up to 600,000 stock options if by September 1, 2023 certain revenue targets are attained with a margin equal to or greater than 25%, 150,000 at $13 million, $18 million, $25 million and $30 million of revenue, each of which will have a 90 day vesting schedule once granted.