09/05/2025 | Press release | Distributed by Public on 09/05/2025 14:04
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Options | $0.14 | 06/03-05:00/2025 | A | 110,000 | (3) | 06/02-05:00/2035 | Common Stock | 110,000 | $ 0 | 110,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Blumberg Richard P. 5835 PEACHTREE CORNERS EAST STE. B PEACHTREE CORNERS, GA 30092 |
X | X |
/s/ Richard P. Blumberg | 09/04-05:00/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | These shares were issued for payment of accrued dividends on the reporting individual's Series F preferred stock, at a conversion price of $0.0943. |
(2) | These shares were issued for payment of accrued dividends on the reporting individual's Series F-2 preferred stock, at a conversion price of $0.0943. |
(3) | One-fourth of the shares are subject to the award vested on June 3, 2025; the remaining shares will vest monthly, starting on September 3, 2025, subject to the reporting person's continued service on each such date, until the award is fully vested on June 2, 2028. |
(4) | These shares were issued for payment of accrued dividends on the reporting individual's Series E preferred stock, at a conversion price of $0.2298. |
(5) | On August 21, 2025, Mr. Blumberg (WMB Pension Plan fbo Richard Blumberg) converted 233 shares of Series E preferred stock into 932,000 shares of common stock. The Series E preferred stock had a stated value of $1,000 and $0.25 exercise price. |