SKYX Platforms Corp.

09/12/2025 | Press release | Distributed by Public on 09/12/2025 16:46

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
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
OMB APPROVAL
OMB Number: 3235-0287
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SOKOLOW LEONARD J
2. Issuer Name and Ticker or Trading Symbol
SKYX Platforms Corp. [SKYX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Co-Chief Executive Officer
(Last) (First) (Middle)
C/O SKYX PLATFORMS CORP., 2855 W. MCNAB ROAD
3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025
(Street)
POMPANO BEACH, FL 33069
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, no par value 09/12/2025 F 19,675(6) D $1.18 699,220(7) D
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)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $0.60 11/15/2015 11/15/2025 Common Stock, no par value 150,000 150,000 D
Stock Option (right to buy) $3 06/30/2017 04/19/2027 Common Stock, no par value 150,000 150,000 D
Stock Option (right to buy) $4 12/31/2017 04/19/2027 Common Stock, no par value 150,000 150,000 D
Stock Option (right to buy) $12 12/31/2020 12/31/2025 Common Stock, no par value 100,000 100,000 D
Stock Option (right to buy) $12 12/31/2021 12/31/2026 Common Stock, no par value 100,000 100,000 D
Stock Option (right to buy) $12.34 03/31/2022 03/11/2027 Common Stock, no par value 17,500 17,500 D
Stock Option (right to buy) $3.28 04/30/2023 04/05/2028 Common Stock, no par value 17,500 17,500 D
Stock Option (right to buy) $1.58 09/12/2023(3) 09/12/2028 Common Stock, no par value 450,000 450,000 D
Stock Option (right to buy) $1.26 03/27/2025(4) 03/27/2030 Common Stock, no par value 150,000 150,000 D
Subordinated Convertible Promissory Note $3 (1) 05/16/2025 Common Stock, no par value $250,000(2) $250,000(2) D
Series A-1 Preferred Stock (5) (5) (5) Common Stock, no par value 208,334(5) 10,000 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SOKOLOW LEONARD J
C/O SKYX PLATFORMS CORP.
2855 W. MCNAB ROAD
POMPANO BEACH, FL 33069
X Co-Chief Executive Officer

Signatures

/s/ Leonard J. Sokolow 09/12/2025
**Signature of Reporting Person Date

Explanation of Responses:

* 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) The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at the holder's discretion at the conversion price of $3.00 per share.
(2) 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.
(3) 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.
(4) Options vest in three equal annual installments, beginning on March 27, 2025, the grant date, subject to continued employment through the vesting date.
(5) 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 adjusted conversion price of $1.20 per share (or approximately 20.83 shares of common stock for each share of Preferred Stock). 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.
(6) The reporting person has elected to satisfy his tax withholding obligation in connection with the vesting of restricted stock units ("RSUs") by directing the issuer to withhold shares otherwise issuable upon vesting of the grant.
(7) Includes 130,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: 100,000 in two semi-annual installments of 50,000 beginning on March 12, 2026 and 30,000 on March 12, 2027.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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