PARETEUM (TEUM) Form 4 PARETEUM / Robert Lee Lippert ownership change

SEC Form 4

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).

1. Name and Address of Reporting Person^*

Lippert Robert Lee

(Last) (First) (Middle)

C/O PARETEUM CORP.

1185 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PARETEUM Corp [ TEUM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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	12/30/2020		J(1)		150,000(2)	D	(1)	825,987	D
Common Stock	12/30/2020		J(1)		159,020(3)	D	(1)	666,967	D
Common Stock	12/30/2020		J(1)		350,000(4)	D	(1)	316,967	D
Common Stock	12/30/2020		J(1)		300,000(5)	D	(1)	16,967	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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
Option	$0.46(6)	01/01/2020		J(2)			100,000	01/01/2020	01/01/2025	Common Stock	100,000	$0	0	D
Option	$0.55	12/30/2020		J(1)		1,577,248		12/30/2020	12/30/2025	Common Stock	1,577,248	$0	1,577,248	D

Explanation of Responses:

1. On December 30, 2020, Pareteum Corporation (the "Company") entered into a Director 2020 Equity Awards Cancellation Agreement (the "Agreement") with the Reporting Person. Pursuant to the terms of the Agreement, the Company and the Reporting Person agreed to rescind the awards of 350,000 shares of Company Common Stock and an aggregate of 609,020 restricted shares of Company Common Stock (collectively, the "Grants"), all initially granted to the Reporting Person under the Pareteum Corporation 2018 Long-Term Incentive Plan (the "Plan"). In consideration for the rescission of the Grants, the Company granted the Reporting Person the option to purchase 1,577,248 shares of Company Common Stock under the Plan.

2. Represents the grant of restricted shares of Company Common Stock on January 1, 2020, previously reported on January 22, 2020, which replaced the previously issued option to purchase 100,000 shares of Company Common Stock that was cancelled simultaneously at the time of the grant.

3. Represents the grant of restricted shares of Company Common Stock as compensation for board service in lieu of cash on February 3, 2020, previously reported on June 12, 2020.

4. Represents the grant of restricted shares of Company Common Stock as compensation for board service in lieu of cash on February 3, 2020, previously reported on June 12, 2020.

5. Represents the Director Efforts Award grant of shares restricted of Company Common Stock on June 5, 2020, previously reported on June 12, 2020.

6. The exercise price for the January 2, 2019 option grant previously reported on May 17, 2019 was incorrectly reported as $1.724.

	/s/ Robert L. Lippert	12/31/2020
	** Signature of Reporting Person	Date
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