SKYX Platforms Corp. (NASDAQ: SKYX) CEO reports new equity awards
Rhea-AI Filing Summary
SKYX Platforms Corp. filed a Form 4 showing new equity awards to its Chief Executive Officer and director. On December 15, 2025, the executive received 150,000 restricted stock units (RSUs) at a price of $0. These RSUs vest in three equal annual installments of 50,000 beginning on January 1, 2026, contingent on continued employment.
The filing also reports a grant of 150,000 stock options with an exercise price of $2.15 per share, exercisable from January 1, 2026 and expiring on December 15, 2030. After these transactions, the executive beneficially owns 948,941 shares of common stock, including 280,000 RSUs subject to future vesting. The report lists additional existing stock options, a $250,000 subordinated convertible promissory note convertible at $3.00 per share, and Series A-1 Preferred Stock convertible into 208,334 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 150,000 | $0.00 | -- |
| Grant/Award | Common Stock, no par value | 150,000 | $0.00 | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Subordinated Convertible Promissory Note | -- | -- | -- |
| holding | Series A-1 Preferred Stock | -- | -- | -- |
Footnotes (1)
- The principal amount, plus any accrued and unpaid interest, is convertible into shares of common stock at the holder's discretion at the conversion price of $3.00 per share. Represents the principal amount of the convertible note and excludes interest that may accrue. Beginning January 1, 2024, the note accrues interest at a rate of 10.0% per annum, which is payable annually, in cash or common stock, at the holder's discretion. Prior to such date, the note accrued interest at a rate of 6.0% per annum. Options vest over 3.5 years as follows, subject to continued employment through the vesting date: 120,000 vested on September 12, 2023; 300,000 vest in six semi-annual installments of 50,000, beginning on March 12, 2024; and 30,000 vest on March 12, 2027. Options vest in three equal annual installments, beginning on March 27, 2025, the grant date, subject to continued employment through the vesting date. The Series A-1 Preferred Stock (the "Preferred Stock") has an original issue price of $25.00 per share and is convertible at any time, at the holder's option, into shares of the issuer's common stock at an adjusted conversion price of $1.20 per share (or approximately 20.83 shares of common stock for each share of Preferred Stock). Until October 4, 2026, the Preferred Stock is subject to mandatory conversion by the issuer upon the occurrence of certain specified events. In addition, the issuer may redeem the Preferred Stock for cash upon the occurrence of certain events or at any time beginning October 4, 2027. The Preferred Stock has no expiration date. Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's common stock. The RSUs vest in three equal annual installments of 50,000 beginning on January 1, 2026, subject to continued employment through the vesting date. Includes 280,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: (i) 130,000 RSUs, which will vest in two semi-annual installments of 50,000 beginning on March 12, 2026 and one installment of 30,000 on March 12, 2027, and (ii) 150,000 RSUs, which will vest in three equal annual installments beginning on January 1, 2026. Options vest in three equal annual installments of 50,000 beginning on January 1, 2026, subject to continued employment through the vesting date.
FAQ
What insider transaction did SKYX (SKYX) report in this Form 4?
The report shows SKYX Platforms Corp.'s Chief Executive Officer and director acquired 150,000 restricted stock units (RSUs) and 150,000 stock options on December 15, 2025.
What are the key terms of the new stock options reported by SKYX?
The new grant consists of 150,000 stock options with an exercise price of $2.15 per share. They become exercisable on January 1, 2026 in three equal annual installments and expire on December 15, 2030.
How do the new RSUs granted by SKYX vest for the CEO?
The 150,000 RSUs vest in three equal annual installments of 50,000 each, beginning on January 1, 2026, subject to the executive’s continued employment through each vesting date.
What convertible note position does the SKYX insider hold?
The executive holds a subordinated convertible promissory note with $250,000 principal, convertible at the holder’s discretion into common stock at $3.00 per share, with interest accruing at stated annual rates.
What are the conversion terms of SKYX’s Series A-1 Preferred Stock held by the insider?
Each share of Series A-1 Preferred Stock has an original issue price of $25.00 and is convertible into common stock at an adjusted conversion price of $1.20 per share, or approximately 20.83 common shares per preferred share, for an aggregate of 208,334 common shares reported.
Does the SKYX insider hold additional stock options besides the new grant?
Yes. The filing lists multiple existing stock option awards with exercise prices ranging from $1.26 to $12.34 per share, various vesting schedules, and expiration dates between 2025 and 2030.