Filing Details

Accession Number:
0001575705-22-000635
Form Type:
4
Zero Holdings:
No
Publication Time:
2022-08-29 13:00:46
Reporting Period:
2022-08-26
Accepted Time:
2022-08-29 13:00:46
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
96885 Tel Instrument Electronics Corp TIK Electronic Components & Accessories (3670) 221441806
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1599510 Jr J. Vincent Dowling 7 Sea Court
Vero Beach FL 32963
No No 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, Par Value $0.10 Per Share Acquisiton 2022-08-26 2,400 $1.85 363,770 No 4 P Indirect See footnote
Common Stock, Par Value $0.10 Per Share Acquisiton 2022-08-26 7,600 $1.86 371,370 No 4 P Indirect See footnote
Common Stock, Par Value $0.10 Per Share Acquisiton 2022-08-26 25,000 $1.76 396,370 No 4 P Indirect See footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect See footnote
No 4 P Indirect See footnote
No 4 P Indirect See footnote
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Series A Convertible Preferred Stock Acquisiton 2017-11-13 333,333 $0.00 1,000,000 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
333,333 No 4 P Indirect
Footnotes
  1. 148,134 shares of common stock are held by IRA FBO Vincent J. Dowling, Jr. Pershing LLC as Custodian Roth Conversion Account. Mr. Dowling has sole beneficial ownership of such shares. 200,000 shares are held by Millennium Trust Company, LLC Custodian FBO Vincent J. Dowling, Jr., Roth IRA. Mr. Dowling has sole beneficial ownership of such shares. 3,336 shares of common stock are held in IRA accounts for the benefit of Vincent J. Dowling Jr.'s daughter (1,112 shares) and two sons (1,112 shares each), and for which Mr. Dowling exercises control. 45,000 shares of common stock are held directly by Mr. Dowling.
  2. The Series A Convertible Preferred Stock has the rights, privileges, preferences and restrictions set for in the Certificate of Amendment to Certificate of Incorporation filed by the Issuer with the Secretary of State of the State of New Jersey on November 8, 2017 (the "Designations"). Subject to the notice and other requirements set forth in the Designations, the Series A Convertible Preferred Stock is convertible at any time, at the holder's election, and there is no expiration date for such conversion. The Designations provide that the Series A Convertible Preferred Stock is convertible into shares of common stock at a price of $3.00 per share, subject to a maximum conversion amount and certain adjustments as set forth in the Designations.
  3. The shares of Series A Convertible Preferred Stock are held by Millennium Trust Company, LLC Custodian FBO Vincent J. Dowling, Jr., Roth IRA. Mr. Dowling has sole beneficial ownership of such shares.