Steven E. Strang - Sep 29, 2021 Form 4 Insider Report for FREQUENCY ELECTRONICS INC (FEIM)

Role: President FEI-Zyfer
Signature: /s/ Steven Bernstein by power of attorney
Stock symbol: FEIM
Transactions as of: Sep 29, 2021
Transactions value $: -$4
Form type: 4
Date filed: 9/30/2021, 12:22 PM
Next filing: Nov 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FEIM	Common Stock	Options Exercise	$72.5K	+10K		$7.25	10K	Sep 29, 2021	Direct
transaction	FEIM	Common Stock	Tax liability	-$72.5K	-6.84K	-68.4%	$10.60	3.16K	Sep 29, 2021	Direct

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	FEIM	Stock Appreciation Rights	Options Exercise	$0	-10K	-23.26%	$0.00	33K	Sep 29, 2021	Common Stock	10K	$7.25	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person performed a cashless exercise of a Stock Option based on 10,000 shares of Frequency Electronics common stock, receiving 3,160 which is equivalent to the appreciated value of the common stock since the grant date.