Richard C. Mills - Mar 22, 2022 Form 4 Insider Report for CREATIVE REALITIES, INC. (CREX)

Signature
/s/ Will Logan, Attorney-in-Fact
Stock symbol
CREX
Transactions as of
Mar 22, 2022
Transactions value $
$0
Form type
4
Date filed
6/17/2022, 04:14 PM
Previous filing
Feb 15, 2024
Next filing
Aug 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CREX Common Stock 702K Mar 22, 2022 Direct
holding CREX Common Stock 88K Mar 22, 2022 By RFK Communications, LLC F1

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 CREX Stock Options (right to buy) Award $0 +160K $0.00 160K Mar 22, 2022 Common Stock 160K $2.53 Direct F2
transaction CREX Stock Options (right to buy) Award $0 +1M $0.00 1M Jun 15, 2022 Common Stock 1M $1.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person is a principal of RFK Communications, LLC and has voting and investment power for this entity.
F2 On June 1, 2020, the reporting person was granted an option to purchase 480,000 shares of common stock. The option vests in three equal annual installments based on certain performance criteria for each of the fiscal years ending December 31, 2020, 2021, and 2022. The performance criteria for 2021 have been met, resulting in vesting of the option as to 160,000 shares.
F3 The option becomes exercisable, if at all, based on price per share as follows: 50,000 shares vest at a share target price of $2.00; 100,000 shares vest at a share target price of $3.00; 150,000 shares vest at a share target price of $4.00; 200,000 shares vest at a share target price of $5.00; 250,000 shares vest at a share target price of $6.00; and 250,000 shares vest at the "Guaranteed Price." The "Guaranteed Price" has the meaning as defined in the Agreement and Plan of Merger by and among Reflect Systems, Inc., Creative Realities, Inc., CRI Acquisition Corporation and RSI Exit Corporation dated as of November 12, 2021 (the "Merger Agreement") (as filed with the SEC on Form 8-K dated November 12, 2021) and means (a) $6.40 per share, or (b) $7.20 per share if and only if certain customers set forth in the Merger Agreement collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022.

Remarks:

Exhibit 24.1 Power of Attorney filed with Form 4 dated 9/18/2019 and incorporated herein by reference.