Joseph N. Forkey - 01 Mar 2022 Form 4 Insider Report for PRECISION OPTICS CORPORATION, INC. (POCI)

Role: Chief Executive Officer, Director
Signature: /s/ Joseph Forkey
Issuer symbol: POCI
Transactions as of: 01 Mar 2022
Transactions value $: $0
Form type: 4
Filing time: 03 Mar 2022, 15:39:40 UTC
Previous filing: 09 Jun 2021
Next filing: 29 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	POCI	Common Stock	Options Exercise	$36,000	+30,000	+8.99%	$1.20^*	363,620	02 Mar 2022	Direct
transaction	POCI	Common Stock	Tax liability	$-36,000	-16,000	-4.4%	$2.25	347,620	02 Mar 2022	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
transaction	POCI	Stock Option (Right to Buy)	Gift		-120,000	-18.5%		530,000	01 Mar 2022	Common Stock	120,000	$1.20	Direct	F2
transaction	POCI	Stock Option (Right to Buy)	Options Exercise		-30,000	-5.66%		500,000	02 Mar 2022	Common Stock	30,000	$1.20	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Reflects 16,000 shares withheld by Issuer at the market price of $2.25 per share to fund the cashless exercise of 30,000 options at an exercise price of $1.20 per share.
F2	The options were granted by the Issuer to compensate executive officers for their services.

Remarks:

The reporting person exercised and gifted the options because they were about to expire. The transactions reported above in Table I reflect the cashless exercise transactions of 30,000 stock options. The cashless exercise for the options is reported in two lines. The first line of the cashless exercise transaction is coded M in column 4 of Table I and reports in column 5 the number of shares issuable upon exercise of the options had cash been paid to exercise the options, together with the exercise price with Code A for acquired. The line coded F in column 3 of Table I relates to the same cashless exercise on the preceding line and reports in Column 5 the number of shares deducted from the total number of shares issuable to pay for the cashless exercise of such options with Code D for disposed. The transactions reported in Table II above, reflect the disposition of the same stock options whose cashless exercise is disclosed in Table I above. In addition, the reporting person gifted certain stock options to a charity in a transaction coded with Code G.