Leonard J. Sokolow - Mar 27, 2025 Form 4 Insider Report for SKYX Platforms Corp. (SKYX)

Role
Co-Chief Executive Officer, Director
Signature
/s/ Leonard J. Sokolow
Stock symbol
SKYX
Transactions as of
Mar 27, 2025
Transactions value $
$0
Form type
4
Date filed
3/28/2025, 04:46 PM
Previous filing
Mar 14, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SKYX Common Stock, no par value 719K Mar 27, 2025 Direct F5

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 SKYX Stock Option (right to buy) Award $0 +150K $0.00 150K Mar 27, 2025 Common Stock, no par value 150K $1.26 Direct F6
holding SKYX Stock Option (right to buy) 150K Mar 27, 2025 Common Stock, no par value 150K $0.60 Direct
holding SKYX Stock Option (right to buy) 150K Mar 27, 2025 Common Stock, no par value 150K $3.00 Direct
holding SKYX Stock Option (right to buy) 150K Mar 27, 2025 Common Stock, no par value 150K $4.00 Direct
holding SKYX Stock Option (right to buy) 100K Mar 27, 2025 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 100K Mar 27, 2025 Common Stock, no par value 100K $12.00 Direct
holding SKYX Stock Option (right to buy) 17.5K Mar 27, 2025 Common Stock, no par value 17.5K $12.34 Direct
holding SKYX Stock Option (right to buy) 17.5K Mar 27, 2025 Common Stock, no par value 17.5K $3.28 Direct
holding SKYX Stock Option (right to buy) 450K Mar 27, 2025 Common Stock, no par value 450K $1.58 Direct F3
holding SKYX Subordinated Convertible Promissory Note $250K Mar 27, 2025 Common Stock, no par value $250K $3.00 Direct F1, F2
holding SKYX Series A-1 Preferred Stock 10K Mar 27, 2025 Common Stock, no par value 125K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at any time on or prior to the maturity date at the holder's discretion at the conversion price of $3.00 per share.
F2 Represents the principal amount of the convertible note and excludes interest that may accrue. Beginning January 1, 2024, the note accrues interest at a rate of 10.0% per annum, which is payable annually, in cash or common stock, at the holder's discretion. Prior to such date, the note accrued interest at a rate of 6.0% per annum.
F3 Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027.
F4 The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share and is convertible at any time, at the holder's option, into shares of the issuer's common stock at an initial conversion price of $2.00 per share (or 12.5 shares of common stock for each share of Preferred Stock), subject to adjustment provisions (including certain anti-dilution provisions) and a minimum conversion price of $1.20 per share. Until October 4, 2026, the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. In addition, the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027. The Preferred Stock has no expiration date.
F5 Includes 180,000 restricted stock units ("RSUs"), which will vest as follows, subject to continued employment through the vesting date: 150,000 in three semi-annual installments of 50,000 beginning on September 12, 2025 and 30,000 on March 12, 2027.
F6 Options vest in three equal annual installments, beginning on March 27, 2025, the grant date, subject to continued employment through the vesting date.