SKYX CEO has 19,673 shares withheld for taxes
SKYX’s CEO used 19,673 shares for tax withholding on RSU vesting, and now directly holds 931,149 common shares plus significant option, note and preferred stock conversion rights.
Rhea-AI Filing Summary
SKYX Platforms Corp. reported that Chief Executive Officer and director Leonard J. Sokolow had 19,673 shares of common stock withheld on September 12, 2026 to satisfy tax withholding obligations related to vesting restricted stock units at $1.35 per share. Following this tax-withholding disposition, he holds 931,149 common shares directly, including 167,500 RSUs that vest over future dates. The filing also lists multiple outstanding stock options, a subordinated convertible promissory note convertible at $3.00 per share, and 10,000 shares of Series A-1 Preferred Stock convertible into 208,334 common shares. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Tax Withholding: 19,673 shares
Tax Withholding
12 txns
Insider
SOKOLOW LEONARD J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, no par value F9, F10 | 19,673 | $1.35 | $27K |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F4 | -- | -- | -- |
| holding | Stock Option (right to buy) F5 | -- | -- | -- |
| holding | Stock Option (right to buy) F6 | -- | -- | -- |
| holding | Stock Option (right to buy) F7 | -- | -- | -- |
| holding | Subordinated Convertible Promissory Note F1, F2 | -- | -- | -- |
| holding | Series A-1 Preferred Stock F8 | -- | -- | -- |
Holdings After Transaction:
Common Stock, no par value — 931,149 shares (Direct);
Stock Option (right to buy) — 1,235,000 contracts (Direct);
Subordinated Convertible Promissory Note — 0 contracts (Direct);
Series A-1 Preferred Stock — 10,000 contracts for 208,334 underlying shares (Direct)
Footnotes (10)
- 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. 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.
- F8. 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.
- F9. The reporting person has elected to satisfy his tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") by directing the issuer to withhold shares otherwise issuable upon vesting of the grants.
- F10. Includes 167,500 RSUs, which will vest as follows, subject to continued employment through the vesting date: (i) 30,000 RSUs, which will vest 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.
Key Figures
Shares used for tax withholding: 19,673 shares
Tax withholding price per share: $1.35 per share
Direct common shares after transaction: 931,149 shares
+5 more
8 metrics
Shares used for tax withholding
19,673 shares
Common stock withheld on September 12, 2026 to satisfy RSU tax obligations
Tax withholding price per share
$1.35 per share
Value assigned to common shares withheld for RSU tax obligations
Direct common shares after transaction
931,149 shares
Common stock directly held by CEO following September 12, 2026 transaction
Unvested RSUs included in holdings
167,500 RSUs
Restricted stock units scheduled to vest between 2027 and 2029
Largest option grant underlying shares
450,000 shares at $1.58
Stock option with $1.58 exercise price expiring September 12, 2028
Convertible note interest rate from 2024
10.0% per annum
Interest on subordinated convertible promissory note beginning January 1, 2024
Series A-1 Preferred Stock held
10,000 shares
Preferred stock with $25.00 original issue price held directly
Common shares issuable from Series A-1
208,334 shares
Common stock obtainable upon conversion at $1.20 per share, about 20.83 per preferred share
Key Terms
Subordinated Convertible Promissory Note, Series A-1 Preferred Stock, restricted stock units ("RSUs"), original issue price
4 terms
Subordinated Convertible Promissory Note financial
"The principal amount, plus any accrued and unpaid interest, is convertible"
Series A-1 Preferred Stock financial
"The Series A-1 Preferred Stock (the "Preferred Stock") has an original"
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.
restricted stock units ("RSUs") financial
"tax withholding obligations in connection with the vesting of restricted stock units"
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.
original issue price financial
"has an original issue price of $25.00 per share and is convertible"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did SKYX (SKYX) CEO Leonard J. Sokolow report in this Form 4?
He reported a tax-withholding disposition of 19,673 common shares on September 12, 2026 at $1.35 per share, used to satisfy tax obligations from vesting restricted stock units, with no open-market sale reported.
Were the SKYX (SKYX) Form 4 transactions under a Rule 10b5-1 plan?
No. The Form 4 indicates that no Rule 10b5-1 trading plan applies to the reported transaction, and the footnotes describe it as a tax withholding related to RSU vesting.
What stock option holdings for SKYX (SKYX) does the CEO report?
He reports multiple stock options on SKYX common stock, including options over 450,000 shares at a $1.58 exercise price expiring September 12, 2028, plus several other grants with exercise prices ranging from $1.06 to $12.34.
What are the key terms of the CEO’s subordinated convertible promissory note at SKYX (SKYX)?
The subordinated convertible promissory note is convertible at $3.00 per share into SKYX common stock. Its principal amount accrues interest of 10.0% per annum beginning January 1, 2024, after previously accruing at 6.0% per annum.
What are the conversion terms of the Series A-1 Preferred Stock held by the SKYX (SKYX) CEO?
He holds 10,000 shares of Series A-1 Preferred Stock with an original issue price of $25.00 per share, convertible at an adjusted conversion price of $1.20 per share into approximately 20.83 common shares each, or 208,334 common shares in total.
How do the CEO’s RSUs at SKYX (SKYX) vest going forward?
He holds 167,500 RSUs that will vest, subject to continued employment, as follows: 30,000 on March 12, 2027; 100,000 in two equal annual installments beginning January 1, 2027; and 37,500 in three equal annual installments beginning June 1, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
