CitroTech holder gifts 150,000 common shares
Stephen Conboy, a ten percent owner of CitroTech Inc., converted 667 shares of Series C Convertible Preferred Stock into 2,224 shares of Common Stock, eliminating his holdings of that preferred class.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Stephen Conboy, a ten percent owner of CitroTech Inc., converted 667 shares of Series C Convertible Preferred Stock into 2,224 shares of Common Stock, eliminating his holdings of that preferred class. He also made a bona fide gift of 150,000 Common shares at a reported price of $0.00 per share.
Insider Trade Summary
667 shares exercised/converted
Exercise
3 txns
Insider
Conboy Stephen
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series C Convertible Preferred Stock, par value $0.0001 F1 | 667 | -- | -- |
| Conversion | Common Stock, par value $0.0001 F1 | 2,224 | -- | -- |
| Gift | Common Stock, par value $0.0001 | 150,000 | $0.00 | $0.00 |
Holdings After Transaction:
Series C Convertible Preferred Stock, par value $0.0001 — 0 shares (Direct);
Common Stock, par value $0.0001 — 2,335,558 shares (Direct)
Holdings Before and After:
Series C Convertible Preferred Stock, par value $0.0001, 667 to 0 shares (Direct);
Common Stock, par value $0.0001, 2,483,334 to 2,335,558 shares (Direct)
Footnotes (1)
- F1. Each share of Series C Convertible Preferred Stock is convertible at any time at the option of the holder into 3.334 shares of Common Stock. The Series C Convertible Preferred Stock has no expiration date.
Key Figures
Series C shares converted: 667 shares
Common shares received on conversion: 2,224 shares
Common shares gifted: 150,000 shares
+3 more
6 metrics
Series C shares converted
667 shares
Series C Convertible Preferred Stock converted into Common Stock
Common shares received on conversion
2,224 shares
Common Stock received from conversion of Series C Convertible Preferred
Common shares gifted
150,000 shares
Bona fide gift of CitroTech Common Stock by Stephen Conboy
Reported gift price per share
$0.00 per share
Price reported for 150,000-share bona fide gift of Common Stock
Conversion ratio
3.334 Common shares per preferred share
Each Series C Convertible Preferred share converts into Common Stock
Series C shares after conversion
0 shares
Reported holdings of Series C Convertible Preferred Stock following conversion
Key Terms
Series C Convertible Preferred Stock, bona fide gift, Conversion of derivative security, par value $0.0001
4 terms
Series C Convertible Preferred Stock financial
"Security title: Series C Convertible Preferred Stock, par value $0.0001"
Series C convertible preferred stock is a class of investment shares issued in a later private financing round that combine safety and upside: they usually pay ahead of ordinary shares if a company pays dividends or is sold, but can be converted into common stock to share in future growth. For investors this acts like a VIP ticket with a safety net—offering priority protection while preserving the option to participate in a successful exit.
bona fide gift financial
"Transaction code G is described as a bona fide gift of Common Stock"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Conversion of derivative security financial
"Transaction code C is labeled as Conversion of derivative security"
par value $0.0001 financial
"Common Stock, par value $0.0001, reported as non-derivative security"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Stephen Conboy report at CitroTech (CITR)?
Stephen Conboy reported converting 667 Series C Convertible Preferred shares into 2,224 Common shares and making a bona fide gift of 150,000 CitroTech Common shares, all held directly, according to the disclosed ownership details.
What did Stephen Conboy receive from converting CitroTech preferred stock (CITR)?
From converting 667 Series C Convertible Preferred shares, Stephen Conboy received 2,224 CitroTech Common shares. After this conversion, his reported holdings of the Series C Convertible Preferred Stock were reduced to 0 shares.
What is the conversion ratio for CitroTech (CITR) Series C Convertible Preferred Stock?
Each share of CitroTech’s Series C Convertible Preferred Stock converts into 3.334 Common shares. This holder‑option conversion feature is available at any time, and the preferred stock carries no expiration date, according to the stated terms.
Does CitroTech’s (CITR) Series C Convertible Preferred Stock expire?
CitroTech’s Series C Convertible Preferred Stock has no expiration date. It is convertible at any time at the holder’s option into Common Stock at a fixed ratio of 3.334 Common shares per preferred share.
Were Stephen Conboy’s CitroTech (CITR) transactions made under a Rule 10b5-1 plan?
The Rule 10b5-1 trading plan affirmation checkbox for these transactions is not checked. The available disclosure does not indicate that the reported conversion or the 150,000-share gift occurred under a Rule 10b5-1 plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
