Unusual Machines grants CEO 5M warrants
Vesting depends on stock-price targets measured over a 20-consecutive-trading-day period and continued employment through each vesting date.
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Rhea-AI Filing Summary
Unusual Machines, Inc. (UMAC) granted 5,000,000 warrants, held indirectly by 8 Consulting LLC, which CEO Allan Thomas Evans solely owns and controls, on October 5, 2026. The warrants cover 5,000,000 common shares, have a $25 exercise price and expire July 24, 2031. The grant was in exchange for Evans's agreement to work without cash compensation after December 31, 2026, subject to shareholder approval. They vest in 1,000,000-warrant increments at common-stock price targets of $25, $40, $60, $80 and $100, measured using an average closing price over a 20-consecutive-trading-day period, with continued employment required through each vesting date.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Warrants F1, F2 | 5,000,000 | -- | -- |
Footnotes (2)
- F1. (1)?The warrants reported herein were granted in exchange for the Reporting Person's agreement to work for the Issuer without cash compensation after December 31, 2026, subject to shareholder approval. The grant was exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-3 promulgated thereunder, having been approved by the Compensation Committee of the Issuer's Board of Directors. The warrants shall vest in equal increments of 1,000,000 warrants, subject to the Issuer's common stock meeting the following price targets: $25, $40, $60, $80 and $100, which price targets shall be measured using an average closing price over a 20-consecutive trading day period, subject to any adjustments and the Reporting Person's continued employment with the Issuer or a subsidiary through the applicable vesting dates.
- F2. The Reporting Person is the sole owner and holds voting and dispositive control of 8 Consulting LLC.
Key Figures
Key Terms
warrants financial
vest financial
average closing price financial
Rule 16b-3 regulatory
FAQ
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How many warrants were awarded in UMAC's Form 4?
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