Avram A. Glazer - Apr 24, 2024 Form 4 Insider Report for INNOVATE Corp. (VATE)

Role
Director, 10%+ Owner
Signature
/s/ Avram A. Glazer
Stock symbol
VATE
Transactions as of
Apr 24, 2024
Transactions value $
$6,285,727
Form type
4
Date filed
4/25/2024, 05:10 PM
Previous filing
Apr 1, 2024
Next filing
Jun 20, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VATE Series C Non-Voting Participating Convertible Pref Stock Award $6.29M +6.29K +25.14% $1,000.00* 31.3K Apr 24, 2024 Common Stock 8.98M $0.70 By: Lancer Capital LLC F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 The reported security does not have an expiration date.
F3 The reporting person is the sole member of Lancer Capital LLC.