McEwen David S bought KTEL
June 17, 2024 · Form 4 insider transaction
McEwen David S bought 187,500 shares of KonaTel, Inc. at $0.22 per share, a transaction worth $41.3K. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 1 day after the transaction.
Footnotes
Effective December 18, 2017, the Company completed an Agreement and Plan of Merger whereby a newly formed wholly owned subsidiary merged with and into KonaTel Nevada, and under which KonaTel Nevada was the surviving corporation and became a wholly owned subsidiary of the Company. Mr. McEwen was the sole shareholder of KonaTel Nevada and received merger consideration of 13,500,000 shares of the Company's Common Stock and 1,500,000 non-compensatory stock options to acquire shares of the Company's Common Stock under the merger. On June 17, 2024, Mr. McEwen exercised his sixth tranche of 187,500 stock options for 187,500 shares of Common Stock.; $41,250, paid by conveying 65,738 shares of KonaTel, Inc. common stock already owned by Mr. McEwen at $0.6275, in a transaction exempt from the provisions of the Act under Rule 16b-3(e) promulgated thereunder.