SKYX CEO awarded 50,000 RSUs and options
SKYX Platforms Corp. director and Chief Executive Officer Leonard J. Sokolow reported routine equity compensation changes.
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Form Type
4
Rhea-AI Filing Summary
SKYX Platforms Corp. director and Chief Executive Officer Leonard J. Sokolow reported routine equity compensation changes. He received an award of 50,000 restricted stock units (RSUs), each representing one share of common stock, and a grant of 50,000 stock options with a $1.06 exercise price that are scheduled to vest in four equal annual installments, subject to continued employment.
To cover tax obligations on RSU vesting, 4,919 common shares were withheld at $1.06 per share. Following these transactions, Sokolow directly holds 950,822 shares of common stock, along with multiple option and convertible positions over additional shares as detailed in the filing.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
SOKOLOW LEONARD J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 50,000 | $0.00 | $0.00 |
| Grant/Award | Common Stock, no par value | 50,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock, no par value | 4,919 | $1.06 | $5K |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Subordinated Convertible Promissory Note | -- | -- | -- |
| holding | Series A-1 Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 1,235,000 contracts for 1,185,000 underlying shares (Direct);
Common Stock, no par value — 950,822 shares (Direct);
Subordinated Convertible Promissory Note — 0 contracts (Direct);
Series A-1 Preferred Stock — 208,334 contracts (Direct)
Footnotes (11)
- F1. 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.
- F2. 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.
- F3. Fully exercisable.
- F4. 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.
- F5. Options vest in three equal annual installments, beginning on March 27, 2025, the grant date, subject to continued employment through the vesting date.
- F6. Options vest in three equal annual installments, beginning on January 1, 2026, subject to continued employment through the vesting date.
- F7. 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.
- F8. Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest in four equal installments of 12,500 on June 14, 2026, June 1, 2027, June 1, 2028 and June 1, 2029, subject to continued employment through the vesting date.
- F9. The reporting person has elected to satisfy his tax withholding obligations in connection with the vesting of RSUs by directing the issuer to withhold shares otherwise issuable upon vesting of the grants.
- F10. Includes 217,500 RSUs, which will vest as follows, subject to continued employment through the vesting date: (i) 80,000 RSUs, which will vest in one installment of 50,000 on September 12, 2026 and one installment of 30,000 on March 12, 2027; (ii) 100,000 RSUs, which will vest in two equal annual installments beginning on January 1, 2027; and (iii) 37,500 RSUs, which will vest in three equal annual installments beginning on June 1, 2027.
- F11. Options vest in four equal installments of 12,500 on June 14, 2026, June 1, 2027, June 1, 2028 and June 1, 2029, subject to continued employment through the vesting date.
Key Figures
RSU award: 50,000 RSUs
New stock options: 50,000 options at $1.06
Tax withholding shares: 4,919 shares at $1.06
+1 more
4 metrics
RSU award
50,000 RSUs
Grant of restricted stock units to CEO
New stock options
50,000 options at $1.06
Options exercisable into common stock, vesting 2026-2029
Tax withholding shares
4,919 shares at $1.06
Shares withheld to satisfy RSU tax obligations
Common shares held
955,741 shares
Direct SKYX common stock ownership after transactions
Key Terms
restricted stock units ("RSUs"), tax withholding obligations, convertible note, Series A-1 Preferred Stock, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
tax withholding obligations financial
"The reporting person has elected to satisfy his tax withholding obligations in connection with the vesting of RSUs"
convertible note financial
"Represents the principal amount of the convertible note and excludes interest that may accrue."
A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.
Series A-1 Preferred Stock financial
"The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share"
Series A-1 preferred stock is a specific class of company shares created in an early financing round that typically gives its holders priority over common shareholders for dividends and money if the company is sold or liquidates. Think of it as a special ticket with upfront privileges — often convertible into ordinary shares and sometimes carrying voting or protective rights — so investors use it to reduce risk and preserve control compared with ordinary stock.
stock option (right to buy) financial
"Stock Option (right to buy) underlying common stock, no par value"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider equity awards did SKYX CEO Leonard Sokolow report in this Form 4?
Leonard Sokolow reported receiving 50,000 restricted stock units and 50,000 stock options. The options have a $1.06 exercise price and vest in four equal annual installments, while the RSUs also vest in scheduled installments, all subject to continued employment with SKYX Platforms Corp.
What are the key terms of Leonard Sokolow’s new SKYX stock options?
Leonard Sokolow received 50,000 stock options with a $1.06 exercise price, exercisable into SKYX common stock. According to the filing, these options vest in four equal installments on specified dates between 2026 and 2029, conditioned on his continued employment with the company.
Does the SKYX Form 4 show any open-market stock purchases or sales by Leonard Sokolow?
The Form 4 shows no open-market purchases or sales by Leonard Sokolow. Reported activities are equity awards and a tax-withholding share disposition related to RSU vesting, which is a non-market transaction used to satisfy income tax obligations on stock-based compensation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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