Provectus CEO converts note into 113K shares
For PROVECTUS BIOPHARMACEUTICALS, INC.
Rhea-AI Filing Summary
For PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT), CEO and director Edward Pershing reported derivative conversions involving a 2025 8% unsecured convertible promissory note and Series D-1 Convertible Preferred Stock. On August 26, 2026 the 2025 Note automatically converted into 11,328 Series D-1 shares at $2.862 per share, and those preferred shares were then converted into 113,280 common shares, reflecting a 10-for-1 conversion ratio. The reported post-transaction holdings of 2,924,949 common shares and related derivative amounts include corrections to typographical errors in a prior Form 4 and those adjustments themselves do not represent new transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,328 shares exercised/converted
Exercise
2 txns
Insider
Pershing Edward
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 8% Unsecured Convertible Promissory Note F3, F4, F6 | -- | $0.00 | -- |
| Exercise | Series D-1 Convertible Preferred Stock F1, F2, F5 | 11,328 | $0.00 | $0.00 |
Holdings After Transaction:
8% Unsecured Convertible Promissory Note — 0 contracts (Direct);
Series D-1 Convertible Preferred Stock — 2,924,949 contracts (Direct)
Footnotes (6)
- F1. Each share of Series D-1 Preferred Stock is convertible into 10 shares of the Issuer's common stock, par value $0.001 per share ("Common Stock").
- F2. The Series D-1 Convertible Preferred Stock will automatically convert into Common Stock on December 31, 2028, unless earlier converted into Common Stock in accordance with the terms of the Certificate of Designation for the Series D-1 Convertible Preferred Stock.
- F3. The Reporting Person could have voluntarily elected to convert the outstanding principal and interest of the 8% unsecured convertible promissory note (the "2025 Note") at any time while the 2025 Note was outstanding into shares of Series D-1 Convertible Preferred Stock at a price per share equal to $2.862. The outstanding principal and interest of the 2025 Note automatically converted into shares of Series D-1 Preferred Stock at a price per share equal to $2.862 on the date which is twelve months after the issue date of the 2025 Note. The 2025 Note was issued pursuant to the Issuer's 2025 Financing.
- F4. On August 26, 2026, the 2025 Note converted into 11,328 shares of Series D-1 Preferred Stock.
- F5. The amount reported reflects an adjustment to correct a typographical error in a previously filed Form 4. This adjustment does not reflect a transaction by the Reporting Person.
- F6. The amount reported reflects an adjustment to correct a typographical error in a previously filed Form 4. This adjustment does not reflect a transaction by the Reporting Person.
Key Figures
Series D-1 Preferred Shares from 2025 Note: 11,328 shares
Conversion price per Series D-1 share: $2.862 per share
Common shares from Series D-1 conversion: 113,280 shares
+2 more
5 metrics
Series D-1 Preferred Shares from 2025 Note
11,328 shares
8% unsecured convertible promissory note automatically converted on August 26, 2026
Conversion price per Series D-1 share
$2.862 per share
Price at which 2025 Note principal and interest converted into Series D-1 Preferred Stock
Common shares from Series D-1 conversion
113,280 shares
Conversion of 11,328 Series D-1 Convertible Preferred Stock into common stock at 10:1
Post-transaction common stock holdings
2,924,949 shares
Direct common stock held by Edward Pershing after conversion and typographical correction
Series D-1 automatic conversion date
December 31, 2028
Date on which Series D-1 Preferred Stock will automatically convert into common stock unless converted earlier
Key Terms
8% Unsecured Convertible Promissory Note, Series D-1 Convertible Preferred Stock, automatic conversion, Certificate of Designation
4 terms
8% Unsecured Convertible Promissory Note financial
"The Reporting Person could have voluntarily elected to convert the outstanding principal"
Series D-1 Convertible Preferred Stock financial
"The 2025 Note converted into 11,328 shares of Series D-1 Preferred Stock."
automatic conversion financial
"The Series D-1 Convertible Preferred Stock will automatically convert into Common Stock"
Certificate of Designation regulatory
"in accordance with the terms of the Certificate of Designation for the Series D-1"
A certificate of designation is a formal document that spells out the specific rights and rules attached to a particular class or series of stock, usually preferred shares. Think of it as a rulebook or menu that lists dividend terms, liquidation priority, conversion or redemption rights and any special voting protections; investors use it to judge how much income, control or downside protection those shares will provide compared with other securities.
FAQ
What insider transaction did PVCT CEO Edward Pershing report on August 26, 2026?
Edward Pershing reported that the 8% unsecured convertible promissory note automatically converted into 11,328 shares of Series D-1 Convertible Preferred Stock, which were then converted into 113,280 shares of common stock of PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT).
What is the conversion price and ratio for PVCT's Series D-1 Convertible Preferred Stock?
Each share of PVCT’s Series D-1 Convertible Preferred Stock is convertible into 10 shares of common stock. The 2025 Note converted into Series D-1 shares at $2.862 per preferred share, according to the reporting by Edward Pershing.
Did the PVCT 8% unsecured convertible promissory note convert automatically?
Yes. The filing states that the outstanding principal and interest of the 8% unsecured convertible promissory note automatically converted into Series D-1 Preferred Stock at $2.862 per share on the date twelve months after its issue date, which was August 26, 2026.
When will PVCT’s Series D-1 Convertible Preferred Stock automatically convert into common stock?
The Series D-1 Convertible Preferred Stock will automatically convert into PVCT common stock on December 31, 2028, unless earlier converted in accordance with the Certificate of Designation for the Series D-1 Convertible Preferred Stock.
Were Edward Pershing’s PVCT transactions made under a Rule 10b5-1 trading plan?
No. The Rule 10b5-1 checkbox is not marked as applicable for this Form 4 for PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT), and the footnotes do not state that the reported conversions occurred under a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
