Filing Details

Accession Number:
0001209191-20-045121
Form Type:
4
Zero Holdings:
No
Publication Time:
2020-08-05 16:35:19
Reporting Period:
2020-08-05
Accepted Time:
2020-08-05 16:35:19
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1697851 Rekor Systems Inc. REKR Communications Equipment, Nec (3669) 815266334
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1711644 K James Mccarthy C/O Rekor Systems, Inc.
7172 Columbia Gateway Drive, Suite 400
Columbia MD 21046
Chief Strategy Officer Yes Yes Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2020-08-05 2,725,836 $2.57 0 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
Footnotes
  1. On August 5, 2020, Mr. James K. McCarthy entered into a privately negotiated Stock Purchase Agreement (the "SPA") with Mr. Robert A. Berman, the current CEO, President, and Executive Chairman of Rekor Systems, Inc. (the "Company"), to sell to Mr. Berman 2,725,836 shares of Common Stock of the Company held by Mr. McCarthy, at a price per share of approximately $2.57. The closing of the transaction is conditioned upon Mr. Berman's payment of: (i) $200,000 no later than two business days from the date of the SPA; and (ii) $6,800,000 no later than forty-five days from the date of the SPA (the "Purchase Price"). Upon payment of the Purchase Price, Mr. McCarthy shall transfer ownership of the Common Stock to Mr. Berman.