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REKR Rekor Systems Inc

1.93
0.00 (0.00%)
Pre Market
Last Updated: 09:16:08
Delayed by 15 minutes
Share Name Share Symbol Market Type
Rekor Systems Inc NASDAQ:REKR NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.93 1.92 2.08 5 09:16:08

Statement of Changes in Beneficial Ownership (4)

05/08/2020 9:36pm

Edgar (US Regulatory)


FORM 4 [X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

McCarthy James K
2. Issuer Name and Ticker or Trading Symbol

Rekor Systems, Inc. [ REKR ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Strategy Officer
(Last)          (First)          (Middle)

C/O REKOR SYSTEMS, INC., 7172 COLUMBIA GATEWAY DRIVE, SUITE 400
3. Date of Earliest Transaction (MM/DD/YYYY)

8/5/2020
(Street)

COLUMBIA, MD 21046
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 8/5/2020  S(1)  2725836 D$2.57 0 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares

Explanation of Responses:
(1) On August 5, 2020, Mr. James K. McCarthy entered into a privately negotiated Stock Purchase Agreement (the "SPA") with Mr. Robert A. Berman, the current CEO, President, and Executive Chairman of Rekor Systems, Inc. (the "Company"), to sell to Mr. Berman 2,725,836 shares of Common Stock of the Company held by Mr. McCarthy, at a price per share of approximately $2.57. The closing of the transaction is conditioned upon Mr. Berman's payment of: (i) $200,000 no later than two business days from the date of the SPA; and (ii) $6,800,000 no later than forty-five days from the date of the SPA (the "Purchase Price"). Upon payment of the Purchase Price, Mr. McCarthy shall transfer ownership of the Common Stock to Mr. Berman.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
McCarthy James K
C/O REKOR SYSTEMS, INC.
7172 COLUMBIA GATEWAY DRIVE, SUITE 400
COLUMBIA, MD 21046
XXChief Strategy Officer

Signatures
/s/ James K. McCarthy8/5/2020
**Signature of Reporting PersonDate

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