Unusual Machines Inc. filed SEC Form 8-K: Unregistered Sales of Equity Securities, Leadership Update, Financial Statements and Exhibits
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Item 3.02 Unregistered Sales of Equity Securities.
The information contained below in Item 5.02 is incorporated by reference into this Item 3.02.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)
On July 30, 2024 Unusual Machines, Inc. (the “Company”) issued the non-employee directors listed in the table below the equity portion of their quarterly compensation. Each of the directors received a vested restricted stock grant for services as a director (and where applicable, committee member) during the quarter ended June 30, 2024. The shares of restricted common stock were granted under the Company’s 2022 Equity Incentive Plan and was subject to each director executing the Company’s standard Restricted Stock Agreement (the “Agreement”), which occurred on July 29, 2024. The fair value per share was based on the quoted trading price as of the close of the market as of July 17, 2024.
Director | Fair Value Per Share | Amount of Restricted Common Stock | Aggregate Fair Value |
Cristina Colon | $1.79 | 6,052 | $10,833 |
Sanford Rich | $1.79 | 6,052 | $10,833 |
Robert Lowry | $1.79 | 6,052 | $10,833 |
Jeffrey Thompson | $1.79 | 5,587 | $10,000 |
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated in its entirety herein by reference.
The directors also received a cash grant for the quarter of $5,416.67 for committee members and $5,000 for non-committee members.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Exhibit | |
10.1 | Form of Restricted Stock Agreement | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Unusual Machines, Inc. | ||
Date: July 31, 2024 | By: | /s/ Allan Evans |
Name: | Allan Evans | |
Title: | Chief Executive Officer |
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