Judith L. Hammerschmidt - Nov 17, 2022 Form 4 Insider Report for Verb Technology Company, Inc. (VERB)

Role
Director
Signature
/s/ Rory J. Cutaia, Attorney-in-Fact for Judith Lynne Hammerschmidt
Stock symbol
VERB
Transactions as of
Nov 17, 2022
Transactions value $
$0
Form type
4
Date filed
11/21/2022, 07:58 PM
Previous filing
Jan 24, 2022
Next filing
Jan 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VERB Common Stock Disposed to Issuer $0 -50.8K -14.33% $0.00 304K Nov 17, 2022 Direct 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 VERB Stock Option (Right to Buy) Award $0 +102K $0.00 102K Nov 17, 2022 Common Stock 102K $0.22 Direct F2
transaction VERB Stock Option (Right to Buy) Award $0 +56.8K +55.89% $0.00 158K Nov 17, 2022 Common Stock 56.8K $0.22 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the Reporting Person's voluntary forfeiture of shares of the Issuer's common stock, par value $0.0001 per share (the "Shares"). The forfeited Shares were issued on January 4, 2022 upon the vesting and settlement in full of an aggregate of 50,829 restricted stock unit awards issued on January 4, 2021 pursuant to the terms of the Issuer's 2019 Omnibus Incentive Plan (the "2019 Plan"). The forfeited Shares were returned to the Issuer's treasury stock.
F2 In exchange for the forfeiture of the shares referenced in Note 1 above, on November 17, 2022, the board of directors of the Issuer granted the Reporting Person stock options to purchase 101,658 Shares. The stock options fully vested upon issuance.
F3 The stock options were granted as consideration for the Reporting Person's agreement to accept a 25% reduction in cash compensation for a period of four months. The stock options were granted pursuant to the 2019 Plan and vest in equal installments on the last day of each month over the four-month period, commencing on December 31, 2022.