SKYX Platforms (SKYX) CEO withholds 20,874 shares to cover RSU taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SKYX Platforms Corp. director and CEO Leonard J. Sokolow reported a tax-related share disposition. On 2026-03-12, he had 20,874 shares of common stock withheld at $1.91 per share to satisfy tax obligations from vesting restricted stock units. This was not an open-market sale. After this withholding, he directly held 905,743 shares of common stock. He also holds various stock options on common stock with exercise prices ranging from $1.26 to $12.00, and Series A-1 Preferred Stock convertible into 208,334 shares of common stock, as disclosed.
Positive
- None.
Negative
- None.
Insider Trade Summary
11 transactions reported
Mixed
11 txns
Insider
SOKOLOW LEONARD J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, no par value | 20,874 | $1.91 | $40K |
| 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 | -- | -- | -- |
Holdings After Transaction:
Common Stock, no par value — 905,743 shares (Direct);
Stock Option (right to buy) — 150,000 shares (Direct);
Subordinated Convertible Promissory Note — 0 shares (Direct);
Series A-1 Preferred Stock — 208,334 shares (Direct)
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. Fully exercisable. 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. Options vest in three equal annual installments, beginning on January 1, 2026, 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. The reporting person has elected to satisfy his tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") by directing the issuer to withhold shares otherwise issuable upon vesting of the grants. Includes 180,000 RSUs, which will vest as follows, subject to continued employment through the vesting date: (i) 80,000 RSUs, which will vest in one installment of 50,000 on September 12, 2026 and one installment of 30,000 on March 12, 2027, and (ii) 100,000 RSUs, which will vest in two equal annual installments beginning on January 1, 2027.
FAQ
What did SKYX CEO Leonard Sokolow report in this Form 4 filing?
Leonard Sokolow reported a tax-withholding share disposition. On March 12, 2026, 20,874 SKYX common shares were withheld at $1.91 per share to cover tax obligations from vesting restricted stock units, rather than sold on the open market.
What stock options does the SKYX CEO hold according to this filing?
The CEO holds several stock option grants on SKYX common stock. The derivative holdings include options with exercise prices between $1.26 and $12.00 per share and various expiration dates, providing potential future rights to acquire additional shares.
How is the SKYX Series A-1 Preferred Stock held by the CEO structured?
The CEO holds Series A-1 Preferred Stock convertible into common shares. Each preferred share has a $25.00 original issue price and is convertible at an adjusted $1.20 per common share, or about 20.83 common shares per preferred share, with mandatory conversion and redemption features.
What does the Form 4 say about the SKYX CEO’s restricted stock units (RSUs)?
The filing discloses 180,000 RSUs held by the CEO. These RSUs vest in scheduled installments between September 12, 2026 and January 1, 2027, subject to continued employment, and the CEO elected share withholding to cover related tax obligations.