Jeffrey Ralph Meisner - Mar 1, 2023 Form 4 Insider Report for Glimpse Group, Inc. (VRAR)

Role
Chief Revenue Officer, Director
Signature
/s/ Jeffrey Ralph Meisner
Stock symbol
VRAR
Transactions as of
Mar 1, 2023
Transactions value $
$839,425
Form type
4
Date filed
5/30/2023, 09:00 AM
Previous filing
Jan 12, 2023
Next filing
Jun 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRAR Common Stock Award $572K +81.7K +97.21% $7.00 166K Mar 1, 2023 Direct F1
transaction VRAR Common Stock Award $17.7K +4.72K +2.85% $3.76 170K Apr 1, 2023 Direct F2
transaction VRAR Common Stock Award $250K +62.5K +36.68% $4.00 233K May 25, 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 1, 2023, the Issuer issued Mr. Meisner 81,671 pursuant to his portion of an earnout payment required under the Membership Interest Sale Agreement dated February 2, 2022 ("S5D Acquisition Agreement"), between the Issuer and the sellers of Sector 5 Digital, LLC (S5D), of which Mr. Meisner was a membership interest holder at the time of the transaction. The value of the shares, $7.00, was contractually determined under the S5D Acquisition Agreement.
F2 Reflects common stock acquired by Mr. Meisner and issued by the Company to the Reporting Person, on April 1, 2023 in lieu of cash salary.
F3 The 62,500 shares of common stock were issued in an arms-length transaction pursuant to which the parties agreed to accelerate a potential earnout provision in an Amendment to the Membership Interest Sale Agreement dated May 25, 2023, between the Issuer and the sellers of Sector 5 Digital, LLC (S5D), of which Mr. Meisner was a membership interest holder at the time of the transaction. In connection with the accelerated earnout provision, Mr. Meisner received shares of the Issuer's common stock, instead of receiving a portion of the potential cash earnout payment due to him.