SKYX insider updates holdings with option exercise and convertibles
Rhea-AI Filing Summary
SKYX Platforms Corp. director and CEO reported insider transactions involving common stock and derivatives. On 11/14/2025, he exercised a stock option for 150,000 shares of common stock at an exercise price of $0.60 per share, increasing his direct holdings. On the same date, 50,279 shares were surrendered in a transaction coded “F,” reflecting shares withheld in connection with the option exercise. After these transactions, he beneficially owned 798,941 shares of common stock directly, including 130,000 RSUs that vest between March 2026 and March 2027.
The filing also lists multiple outstanding stock options with exercise prices ranging from $0.60 to $12.34 and expiration dates between 2025 and 2030, as well as vesting schedules extending through March 27, 2027. In addition, he holds a subordinated convertible promissory note with a principal amount of $250,000, convertible into common stock at $3.00 per share and accruing interest at 10.0% per annum from January 1, 2024. The filing further discloses Series A-1 Preferred Stock with an original issue price of $25.00 per share, convertible into common stock at an adjusted conversion price of $1.20 per share and subject to specified mandatory conversion and redemption provisions.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 150,000 | $0.00 | -- |
| Exercise | Common Stock, no par value | 150,000 | $0.60 | $90K |
| Tax Withholding | Common Stock, no par value | 50,279 | $1.79 | $90K |
| 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. Reflects shares surrendered in connection with the exercise of stock options. Includes 130,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: 100,000 in two semi-annual installments of 50,000 beginning on March 12, 2026 and 30,000 on March 12, 2027.
FAQ
What insider transaction did SKYX (SKYX) report on November 14, 2025?
The CEO and director of SKYX Platforms Corp. reported exercising a stock option for 150,000 shares of common stock at an exercise price of $0.60 per share on 11/14/2025, and shares were surrendered in connection with that exercise.
What stock options does the SKYX CEO still hold after the reported exercise?
The filing lists several remaining stock options to buy SKYX common stock with exercise prices between $3.00 and $12.34 (and others at $1.58 and $1.26), with expiration dates from 2025 through 2030, and vesting schedules extending through March 27, 2027.
What are the terms of the subordinated convertible note held by the SKYX insider?
The reporting person holds a subordinated convertible promissory note with a principal amount of $250,000, convertible into SKYX common stock at $3.00 per share. The note accrues interest at 10.0% per annum from January 1, 2024, payable annually in cash or common stock at the holder’s discretion.
How is SKYX Series A-1 Preferred Stock held by the insider convertible into common stock?
The Series A-1 Preferred Stock has an original issue price of $25.00 per share and is convertible at the holder’s option into SKYX common stock at an adjusted conversion price of $1.20 per share, or approximately 20.83 shares of common stock for each preferred share.
When do the RSUs held by the SKYX CEO vest?
The 130,000 RSUs included in the CEO’s holdings vest as follows, subject to continued employment: 100,000 in two semi-annual installments of 50,000 beginning on March 12, 2026, and 30,000 on March 12, 2027.