SKYX president has 5,930 shares withheld for taxes
The President's reported holdings also include Series A-1 preferred shares convertible into 416,667 common shares at an adjusted conversion price of $1.20 per share.
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Form Type
4
Rhea-AI Filing Summary
SKYX Platforms Corp. President Steven Mark Schmidt had 5,930 common shares withheld on September 30, 2026, to satisfy tax withholding obligations tied to vesting of restricted stock units; the transaction lists a price of $1.15 per share. His reported post-transaction holding was 445,874 shares, including 80,000 RSUs scheduled to vest in quarterly installments of 20,000 beginning December 31, 2026, subject to continued employment.
Insider Trade Summary
Tax Withholding: 5,930 shares
Tax Withholding
4 txns
Insider
Schmidt Steven Mark
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, no par value F1, F5 | 5,930 | $1.15 | $7K |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F2 | -- | -- | -- |
| holding | Series A-1 Preferred Stock F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock, no par value — 445,874 shares (Direct);
Stock Option (right to buy) — 350,000 contracts (Direct);
Series A-1 Preferred Stock — 20,000 contracts for 416,667 underlying shares (Direct)
Footnotes (5)
- F1. 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.
- F2. Fully exercisable.
- F3. These options vest as follows, subject to continued employment through the vesting date: 10,000 vested on December 20, 2024, and the remaining 240,000 vest in equal quarterly installments of 20,000 beginning December 31, 2024.
- F4. 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.
- F5. Includes 80,000 RSUs, which vest in equal quarterly installments of 20,000 beginning December 31, 2026, subject to continued employment through the vesting date.
Key Figures
Shares withheld for tax liability: 5,930 shares
Reported transaction price: $1.15 per share
Post-transaction reported holding: 445,874 shares
+5 more
8 metrics
Shares withheld for tax liability
5,930 shares
September 30, 2026
Reported transaction price
$1.15 per share
September 30, 2026 share withholding
Post-transaction reported holding
445,874 shares
Includes 80,000 RSUs
RSUs included in reported holding
80,000 RSUs
Vesting in quarterly installments of 20,000 beginning December 31, 2026, subject to continued employment
Shares underlying stock options
250,000 shares
$0.90 exercise price; expiration September 15, 2029
Shares underlying stock options
100,000 shares
$1.09 exercise price; fully exercisable; expiration December 15, 2029
Series A-1 Preferred Stock
20,000 shares
Direct holding
Common shares underlying Series A-1 Preferred Stock
416,667 shares
Adjusted conversion price of $1.20 per share
Key Terms
restricted stock units, tax withholding obligations, adjusted conversion price, mandatory conversion
4 terms
restricted stock units financial
"vesting of restricted stock units ("RSUs")"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"satisfy his tax withholding obligations"
adjusted conversion price financial
"at an adjusted conversion price of $1.20 per share"
mandatory conversion financial
"subject to mandatory conversion by the issuer"
Mandatory conversion is a rule that forces certain convertible securities—like bonds or preferred shares—to be turned into common stock when specific conditions are met (for example, a date arrives or a price target is hit). For investors this matters because it increases the number of shares outstanding and can dilute existing ownership, shifting value from fixed-income holders into equity holders and changing a company’s risk and return profile, much like an automatic trade that swaps a guaranteed payment for an ownership stake.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the terms of Steven Mark Schmidt's SKYX stock options?
The reported option holdings cover 250,000 common shares at a $0.90 exercise price, expiring September 15, 2029; these options vest subject to continued employment, with 10,000 vested December 20, 2024, and the remaining 240,000 vesting in equal quarterly installments of 20,000 beginning December 31, 2024. A separate option covers 100,000 shares at $1.09, is fully exercisable, and expires December 15, 2029.
AI-generated analysis. How Rhea-AI works. Not financial advice.
