Form 4 for VATE INNOVATE Corp.
Accepted 2024-06-20 00:00:00 ET · period of report 2024-06-18 · accession 0001006837-24-000105 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DI | 2024-06-20 | 2024-06-18 | VATE | GLAZER AVRAM A | Dir, 10% | C - Cnv Deriv | $0.7 | +44.69M | 64.08M | +231% | +$31.29M |
| D | 2024-06-20 | 2024-06-18 | VATE | GLAZER AVRAM A | Dir, 10% | A - Grant | $0.00 | +161.0K | 376.2K | +75% | $0 |
| DI | 2024-06-20 | 2024-06-18 | VATE | GLAZER AVRAM A | Dir, 10% | C - Cnv Deriv | $1,000.00 | -31.3K | 0 | -100% | -$31.29M |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-06-18 | C | A | 44,693,895 | $0.7 | 64,078,091 | I | — | — | (F2) The reported shares were issued upon stockholder approval of the conversion of the Company's Series C Non-Voting Participating Convertible Preferred Stock. See FN 5. |
| 2 | Common | Common Stock | 2024-06-18 | A | A | 161,001 | $0.00 | 376,196 | D Lancer Capital | — | — | (F1) The shares will vest and become non-forfeitable on the earlier of (i) the first anniversary of the grant date and (ii) the first regular annual meeting of the Company's stockholders that occurs following the date of grant (subject to continued service with the Company through such vesting date). (F3) The reported shares were purchased by Lancer Capital LLC ("Lancer"). The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole owner of Lancer, and in such capacity may be deemed to beneficially own the shares held of record by Lancer. The Reporting Person is the Trustee of the Trust, and in such capacity may be deemed to beneficially own the shares held of record by Lancer Capital and the Trust. |
| 3 | Derivative | Series C Non-Voting Participating Convertible Pref Stock | 2024-06-18 | C | D | 31,285.73 | $1,000.00 | 0 | I By: Lancer Capital LLC | $0.7 · — to — | 44,693,895 Common Stock | (F7) The reporting person is the sole member of Lancer Capital LLC. (F5) The Series C Non-Voting Participating Convertible Preferred Stock will convert automatically into common stock upon stockholder approval of the conversion and may be converted at the option of the reporting person prior to the consummation of any merger, sale of all or substantially all assets of the Issuer, or other change of control transaction with a third party unaffiliated with any holder of the Series C Preferred Stock pursuant to which the Issuer will be delisted from the New York Stock Exchange. (F6) The reported security does not have an expiration date. |