Thomas J Ridge Form 4 SQL Technologies / Thomas J Ridge 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^*

Ridge Thomas J

(Last) (First) (Middle)

C/O SQL TECHNOLOGIES CORP.

2855 W. MCNAB ROAD

(Street)

POMPANO BEACH FL 33069

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SQL Technologies Corp. [ SKYX ]

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)
03/31/2022

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, no par value	03/31/2022		A		285(3)	A	$12.85	785,285	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
Stock Option (right to buy)	$3							12/31/2017	04/19/2027	Common Stock, no par value	166,667		166,667	D
Stock Option (right to buy)	$4							12/31/2018	04/19/2027	Common Stock, no par value	166,667		166,667	D
Stock Option (right to buy)	$5							12/31/2019	04/19/2027	Common Stock, no par value	166,666		166,666	D
Stock Option (right to buy)	$3							01/01/2018	01/01/2023	Common Stock, no par value	25,000		25,000	D
Stock Option (right to buy)	$3							01/01/2019	01/01/2024	Common Stock, no par value	25,000		25,000	D
Stock Option (right to buy)	$12							01/01/2020	01/01/2025	Common Stock, no par value	25,000		25,000	D
Stock Option (right to buy)	$12							12/31/2020	12/31/2025	Common Stock, no par value	25,000		25,000	D
Stock Option (right to buy)	$12							12/31/2021	12/31/2026	Common Stock, no par value	25,000		25,000	D
Stock Option (right to buy)	$12.34							03/31/2022(2)	03/11/2027	Common Stock, no par value	5,000		5,000	D
Series A Convertible Preferred Stock	(1)							(1)	(1)	Common Stock, no par value	200,000		200,000	D

Explanation of Responses:

1. The Series A Convertible Preferred Stock (the "Preferred Stock") is convertible at any time, at the holder's election, on a one-for-one basis, and has no expiration date. The issuer may repurchase any or all of the Preferred Stock at any time, if certain conditions are met. Holders of the Preferred Stock may require the issuer to repurchase some or all of their shares of Preferred Stock.

2. Options vest in twelve equal monthly installments, beginning on the last day of the month in which the options were granted.

3. The reporting person has elected to receive shares of the issuer's common stock in lieu of the cash retainer payable for service on the issuer's board of directors, pursuant to the non-employee director compensation program.

	/s/ Thomas J. Ridge	04/04/2022
	** 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).
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