0001731122-22-000389.txt : 20220308 0001731122-22-000389.hdr.sgml : 20220308 20220308181042 ACCESSION NUMBER: 0001731122-22-000389 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220305 FILED AS OF DATE: 20220308 DATE AS OF CHANGE: 20220308 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Patel Nirajkumar CENTRAL INDEX KEY: 0001768756 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40641 FILM NUMBER: 22723136 MAIL ADDRESS: STREET 1: 4460 OLD DIXIE HIGHWAY, CITY: GRANT STATE: FL ZIP: 32949 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Kaival Brands Innovations Group, Inc. CENTRAL INDEX KEY: 0001762239 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-NONSTORE RETAILERS [5960] IRS NUMBER: 833492907 FISCAL YEAR END: 1031 BUSINESS ADDRESS: STREET 1: 4460 OLD DIXIE HIGHWAY CITY: GRANT STATE: FL ZIP: 32949 BUSINESS PHONE: (833) 452-4825 MAIL ADDRESS: STREET 1: 4460 OLD DIXIE HIGHWAY CITY: GRANT STATE: FL ZIP: 32949 FORMER COMPANY: FORMER CONFORMED NAME: Quick Start Holdings, Inc. DATE OF NAME CHANGE: 20181218 4 1 ownership.xml X0306 4 2022-03-05 0 0001762239 Kaival Brands Innovations Group, Inc. KAVL 0001768756 Patel Nirajkumar 4460 OLD DIXIE HIGHWAY, GRANT FL 32949 1 1 1 0 Chief Executive Officer Restricted Stock Units 2022-03-05 4 D 0 120833 0 D Common Stock 120833 0 D Restricted Stock Units 2022-03-05 4 D 0 500000 0 D Common Stock 500000 0 D Stock Options 2.85 2022-03-05 4 A 0 600000 0 D 2032-03-04 Common Stock 600000 600000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of KAVL's common stock. On May 28, 2020, the reporting person was granted 250,000 RSUs. The RSUs vest over a three-year period, with a portion vesting immediately on the grant date, and the reminder partially vesting every three months. On March 5, 2022, the RSUs were cancelled by the mutual agreement of KAVL and the reporting person. Any unvested RSU shares were cancelled. On May 28, 2020, the reporting person was granted 500,000 RSUs. The RSUs vest only in an event of a change of control of KAVL or KAVL achieves in excess of $1 billion in accumulated total gross revenues during the period beginning on March 9, 2020 and ending on October 31, 2023. On March 5, 2022, the RSUs were cancelled by the mutual agreement of KAVL and the reporting person. No vested prior to the cancellation date. 300,000 shares vested on the grant date. The remaining shares will vest on March 5, 2023. /s/ Eric Mosser, as attorney-in-fact 2022-03-08