4//SEC Filing
GLAZER AVRAM A 4
Accession 0001006837-24-000105
CIK 0001006837other
Filed
Jun 19, 8:00 PM ET
Accepted
Jun 20, 4:14 PM ET
Size
11.4 KB
Accession
0001006837-24-000105
Insider Transaction Report
Form 4
INNOVATE Corp.VATE
GLAZER AVRAM A
Director10% Owner
Transactions
- ConversionSwap
Common Stock
2024-06-18$0.70/sh+44,693,895$31,285,726→ 64,078,091 total(indirect: Lancer Capital) - ConversionSwap
Series C Non-Voting Participating Convertible Pref Stock
2024-06-18$1000.00/sh−31,285.727$31,285,727→ 0 total(indirect: By LLC)Exercise: $0.70→ Common Stock (44,693,895 underlying) - Award
Common Stock
2024-06-18+161,001→ 376,196 total
Holdings
- 3,139,405(indirect: By Trust)
Common Stock
Footnotes (7)
- [F1]The shares will vest and become non-forfeitable on the earlier of (i) the first anniversary of the grant date and (ii) the first regular annual meeting of the Company's stockholders that occurs following the date of grant (subject to continued service with the Company through such vesting date).
- [F2]The reported shares were issued upon stockholder approval of the conversion of the Company's Series C Non-Voting Participating Convertible Preferred Stock. See FN 5.
- [F3]The reported shares were purchased by Lancer Capital LLC ("Lancer"). The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole owner of Lancer, and in such capacity may be deemed to beneficially own the shares held of record by Lancer. The Reporting Person is the Trustee of the Trust, and in such capacity may be deemed to beneficially own the shares held of record by Lancer Capital and the Trust.
- [F4]The reported shares were acquired by the Avram Glazer Irrevocable Exempt Trust (the "Trust"). Reporting person is the Trustee of the Trust, and in such capacity may be deemed to beneficially own the shares held of record by the Trust.
- [F5]The Series C Non-Voting Participating Convertible Preferred Stock will convert automatically into common stock upon stockholder approval of the conversion and may be converted at the option of the reporting person prior to the consummation of any merger, sale of all or substantially all assets of the Issuer, or other change of control transaction with a third party unaffiliated with any holder of the Series C Preferred Stock pursuant to which the Issuer will be delisted from the New York Stock Exchange.
- [F6]The reported security does not have an expiration date.
- [F7]The reporting person is the sole member of Lancer Capital LLC.
Documents
Issuer
INNOVATE Corp.
CIK 0001006837
Entity typeother
IncorporatedNY
Related Parties
1- filerCIK 0001077812
Filing Metadata
- Form type
- 4
- Filed
- Jun 19, 8:00 PM ET
- Accepted
- Jun 20, 4:14 PM ET
- Size
- 11.4 KB