Amendment: Director Grover Matthew was granted 2,500 shares and converted options into 2,500 shares, increasing direct ownership by 29% to 22,500 units (SEC Form 4)
$DTST
EDP Services
Technology
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Data Storage Corp [ DTST ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/31/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) 04/02/2024 |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 03/31/2024 | M | 2,500(2) | A | (1) | 20,000(2) | D | |||
| Common Stock | 03/31/2024 | A | 2,500(3) | A | $0 | 22,500 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Unit | (1) | 03/31/2024 | M | 2,500 | (2) | (2) | Common Stock | 2,500 | $0 | 0(4) | D | ||||
| Option to Purchase Stock | $5.72(5) | 03/31/2024 | A | 2,500 | (5) | 03/30/2034 | Common Stock | 2,500 | $0 | 2,500 | D | ||||
| Explanation of Responses: |
| 1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis and represent a contingent right to receive one share of the Issuer's common stock. |
| 2. On March 31, 2023 the reporting person was granted 2,500 RSUs, which vested on March 31, 2024. The total amount of securities beneficially owned after this issuance reflects a correction from the Form 4 filed by Mr. Grover on January 3, 2024, which should have disclosed 17,500 shares beneficially owned at that time rather than 17,250. |
| 3. Represents the shares of the Issuer's common stock underlying an RSU grant to Mr. Grover on March 31, 2024, which RSUs vest on the one-year anniversary of the date of grant. |
| 4. The amount of derivative securities beneficially owned by Mr. Grover following the reported transaction is correctly reported on this Form 4. The amount of derivative securities beneficially owned by Mr. Grover following the reported transaction has been adjusted to correct errors in prior Form 4 filings that were filed with the Securities and Exchange Commission on July 5, 2023, October 11, 2023, January 3, 2024 and April 2, 2024, each of which indicated the balance of derivative securities beneficially owned by Mr. Grover following the reported transaction as being 2,500 greater than the actual number that should have been reported. |
| 5. These options ("Options") vest and become exercisable in three equal annual installments over the three-year period measured from March 31, 2024, vesting commencing on March 31, 2025. These Options will expire on March 30, 2034. |
| /s/ Wendy Schmittzeh, Attorney-in-fact | 07/31/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||