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