Volk Fred III

SEC source: 0000891839-26-000425 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · Former VP

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 7,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units, which converted into common stock on a one-for-one basis, vested on September 30, 2026.

F1 · derivative.exercise_date: These restricted stock units, which converted into common stock on a one-for-one basis, vested on September 30, 2026.

F1 · derivative.expiration_date: These restricted stock units, which converted into common stock on a one-for-one basis, vested on September 30, 2026.

SEC source: 0000891839-26-000425 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · Former VP

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,100

F2 · shares: Shares withheld to cover tax withholdings obligations upon the vesting of RSUs.

SEC source: 0000891839-26-000425 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · Former VP

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,811

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units, which converted into common stock on a one-for-one basis, vested on September 30, 2026.

SEC source: 0000891839-26-000017 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 12,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2026.

F1 · price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2026.

F1 · derivative.exercise_date: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2026.

F1 · derivative.expiration_date: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2026.

SEC source: 0000891839-26-000017 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 73,108

F2 · shares: Shares withheld to cover tax withholdings obligations upon the vesting of RSUs.

SEC source: 0000891839-26-000017 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 77,309

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2026.

SEC source: 0000891839-25-000113 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 13,334 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units ("RSUs") vested on 11/2/2025 and converted into common stock on a one-for-one basis.

F1 · derivative.exercise_date: These restricted stock units ("RSUs") vested on 11/2/2025 and converted into common stock on a one-for-one basis.

F1 · derivative.expiration_date: These restricted stock units ("RSUs") vested on 11/2/2025 and converted into common stock on a one-for-one basis.

SEC source: 0000891839-25-000113 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 64,809

F2 · shares: Shares withheld to cover tax withholdings obligations upon the vesting of RSUs.

SEC source: 0000891839-25-000113 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 70,114

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units ("RSUs") vested on 11/2/2025 and converted into common stock on a one-for-one basis.

SEC source: 0001062993-25-000186 · form4.xml · derivative · entry 4

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,500

Underlying: Common Stock, par value $0.001 per share · 12,500 shares

Expires not disclosed

F3 · derivative.exercise_price: These RSUs were granted pursuant to the issuer's salary reduction program in a transaction exempt under Rule 16b-3, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60. These RSUs will vest on 1/1/2026.

F3 · price: These RSUs were granted pursuant to the issuer's salary reduction program in a transaction exempt under Rule 16b-3, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60. These RSUs will vest on 1/1/2026.

F3 · derivative.exercise_date: These RSUs were granted pursuant to the issuer's salary reduction program in a transaction exempt under Rule 16b-3, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60. These RSUs will vest on 1/1/2026.

F3 · derivative.expiration_date: These RSUs were granted pursuant to the issuer's salary reduction program in a transaction exempt under Rule 16b-3, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60. These RSUs will vest on 1/1/2026.

SEC source: 0001062993-25-000186 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,250 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2025.

F1 · price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2025.

F1 · derivative.exercise_date: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2025.

F1 · derivative.expiration_date: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2025.

SEC source: 0001062993-25-000186 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 56,780

F2 · shares: Shares withheld to cover tax withholding obligations upon the vesting of RSUs.

SEC source: 0001062993-25-000186 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 58,880

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units, which convert into common stock on a one-for-one basis (the "RSUs"), were granted pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60, and vested on 1/1/2025.

SEC source: 0001062993-24-018324 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,334

Underlying: Common Stock, par value $0.001 per share · 13,333 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units (RSUs) convert into common stock on a one-for-one basis.

F3 · derivative.exercise_date: Two-thirds of the original grant of these RSUs vested on each of 11/2/2023 and 11/2/2024 and, except as otherwise provided in the award notice, the balance vests on 11/2/2025.

F3 · derivative.expiration_date: Two-thirds of the original grant of these RSUs vested on each of 11/2/2023 and 11/2/2024 and, except as otherwise provided in the award notice, the balance vests on 11/2/2025.

SEC source: 0001062993-24-018324 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 52,630

F2 · shares: Shares withheld to cover tax withholding obligations upon the vesting of RSUs.

SEC source: 0001062993-24-018324 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,703

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units (RSUs) convert into common stock on a one-for-one basis.

SEC source: 0001062993-24-013189 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Stock, par value $0.001 per share · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: These restricted stock units (RSUs) convert into common stock on a one-for-one basis.

F3 · derivative.exercise_date: These RSUs were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest on 1/1/2025, except as otherwise provided in the award notice.

F3 · derivative.expiration_date: These RSUs were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest on 1/1/2025, except as otherwise provided in the award notice.

SEC source: 0001062993-24-013310 · form4a.xml · derivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Stock, par value $0.001 per share · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: These restricted stock units ("RSUs"), which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest on 1/1/2025, except as otherwise provided in the award notice.

F2 · price: The original Form 4 mistakenly listed $0. This grant of RSUs was made pursuant to the issuer's salary reduction program, pursuant to which the number of RSUs was determined by dividing the amount of the reporting person's salary reduction by $1.60.

F1 · derivative.exercise_date: These restricted stock units ("RSUs"), which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest on 1/1/2025, except as otherwise provided in the award notice.

F1 · derivative.expiration_date: These restricted stock units ("RSUs"), which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest on 1/1/2025, except as otherwise provided in the award notice.

SEC source: 0001062993-24-013189 · form4.xml · derivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 75,000

Underlying: Common Stock, par value $0.001 per share · 75,000 shares

Expires not disclosed

F1 · derivative.exercise_price: These restricted stock units (RSUs) convert into common stock on a one-for-one basis.

F2 · derivative.exercise_date: These RSUs were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest in three tranches. Tranche 1 will vest 20,000 shares of common stock after the Reporting Person's continued employment on or after June 18, 2025 if the price of the Company's common stock increases to $2.21 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027. Tranche 2 will vest 25,000 shares after the Reporting Person's continued employment on or after June 18, 2025 if the price of the Company's common stock increases to $2.94 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027. Tranche 3 will vest 30,000 shares after the Reporting Person's continued employment on June 18, 2027 if the price of the Company's common stock increases to $3.68 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027.

F2 · derivative.expiration_date: These RSUs were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest in three tranches. Tranche 1 will vest 20,000 shares of common stock after the Reporting Person's continued employment on or after June 18, 2025 if the price of the Company's common stock increases to $2.21 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027. Tranche 2 will vest 25,000 shares after the Reporting Person's continued employment on or after June 18, 2025 if the price of the Company's common stock increases to $2.94 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027. Tranche 3 will vest 30,000 shares after the Reporting Person's continued employment on June 18, 2027 if the price of the Company's common stock increases to $3.68 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027.

SEC source: 0001062993-23-020105 · form4.xml · derivative · entry 3

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,667

Underlying: Common Stock, par value $0.001 per share · 13,333 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: These restricted stock units convert into common stock on a one-for-one basis.

F3 · derivative.exercise_date: One-third of the original grant of these restricted stock units vested on 11/2/2023, and except as otherwise provided in the award notice, the balance vests in substantially equal installments on 11/2/2024 and 11/2/2025.

F3 · derivative.expiration_date: One-third of the original grant of these restricted stock units vested on 11/2/2023, and except as otherwise provided in the award notice, the balance vests in substantially equal installments on 11/2/2024 and 11/2/2025.

SEC source: 0001062993-23-020105 · form4.xml · nonDerivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 42,370

F2 · shares: Shares withheld to cover tax withholding obligations upon the vesting of restricted stock units.

SEC source: 0001062993-23-020105 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,730

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: These restricted stock units convert into common stock on a one-for-one basis.

SEC source: 0001062993-23-017904 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,397

F1 · kind: These shares were acquired under the VerifyMe, Inc. 2021 Stock Purchase Plan in a transaction exempt under Rule 16b-3(d).

SEC source: 0001062993-23-005588 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,356

F1 · kind: These shares were acquired under the VerifyMe, Inc. 2021 Stock Purchase Plan in a transaction exempt under Rule 16b-3(d).

SEC source: 0001062993-22-021431 · form4.xml · derivative · entry 2

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,000

Underlying: Common Stock, par value $0.001 per share · 40,000 shares

Expires not disclosed

F1 · derivative.exercise_price: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest one-third on each of the first three anniversaries of the grant date.

F1 · derivative.exercise_date: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest one-third on each of the first three anniversaries of the grant date.

F1 · derivative.expiration_date: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest one-third on each of the first three anniversaries of the grant date.

SEC source: 0001062993-22-012383 · form4.xml · nonDerivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,549

F1 · kind: On April 22, 2022, the issuer and PeriShip Global LLC, the issuer's wholly-owned subsidiary ("PeriShip Global") entered into an asset purchase agreement (the "Agreement") with PeriShip, LLC (PeriShip) and PeriShip's founder (the "Founder"). Pursuant to the Agreement, PeriShip Global paid stock consideration equaling $1,000,000 (the "Stock Consideration") to PeriShip. As part of the reporting person's transaction bonus, PeriShip and the Founder assigned shares to the reporting person equaling 10% of the Stock Consideration. The transfer of shares was effectuated on 5/12/2022.

F1 · price: On April 22, 2022, the issuer and PeriShip Global LLC, the issuer's wholly-owned subsidiary ("PeriShip Global") entered into an asset purchase agreement (the "Agreement") with PeriShip, LLC (PeriShip) and PeriShip's founder (the "Founder"). Pursuant to the Agreement, PeriShip Global paid stock consideration equaling $1,000,000 (the "Stock Consideration") to PeriShip. As part of the reporting person's transaction bonus, PeriShip and the Founder assigned shares to the reporting person equaling 10% of the Stock Consideration. The transfer of shares was effectuated on 5/12/2022.

SEC source: 0001062993-22-011241 · form4.xml · derivative · entry 1

Volk Fred III · CIK 0001926084 · VP-Ops, PeriShip Global LLC

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 62,696

Underlying: Common Stock, par value $0.001 per share · 62,696 shares

Expires not disclosed

F1 · derivative.exercise_price: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on 4/22/2024 in two equal tranches. Tranch 1 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $5.00 for 20 consecutive trading days, Tranch 1 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days.

F2 · derivative.exercise_price: (Continued from footnote 1) Tranch 2 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $7.00 for 20 consecutive trading days, Tranch 2 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.

F1 · derivative.exercise_date: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on 4/22/2024 in two equal tranches. Tranch 1 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $5.00 for 20 consecutive trading days, Tranch 1 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days.

F2 · derivative.exercise_date: (Continued from footnote 1) Tranch 2 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $7.00 for 20 consecutive trading days, Tranch 2 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.

F1 · derivative.expiration_date: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on 4/22/2024 in two equal tranches. Tranch 1 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $5.00 for 20 consecutive trading days, Tranch 1 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days.

F2 · derivative.expiration_date: (Continued from footnote 1) Tranch 2 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $7.00 for 20 consecutive trading days, Tranch 2 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.