Progenity (PROG) director Kotzin returned to the company 44 Series X Preferred Stock

Insider transactions reported

Brian L. Kotzin (director at Progenity Inc., PROG) reported that they returned to the company 44 Series X Preferred Stock on Jan 3, 2023. After these transactions the filing shows 0 Series X Preferred Stock held directly.

Reporting person

Kotzin Brian L.

Holdings before and after

• Series X Preferred Stock: 44 to 0 direct

Footnotes from the filing

1. 1. On November 10, 2022, the Company's board of directors (the Board ) declared a dividend of one one-thousandth of a share of Series X Preferred Stock, par value $0.001 per share (the Preferred Stock ), for each outstanding share of common stock to common stockholders of record at 5:00 p.m. Eastern Time on November 21, 2022, in a transaction exempt from Section 16 under Rule 16a-9. The shares of Preferred Stock were distributed on November 21, 2022. As a result, the Reporting Person received the shares of Preferred Stock set forth above. The Preferred Stock was not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of the Company.
2. 2. On January 3, 2023, in connection with the Company's reverse stock split for the common stock, the shares of Preferred Stock were redeemed automatically in accordance with the certificate of designation of the Preferred Stock. Each share of Preferred Stock was redeemed in consideration for the right to receive an amount equal to $0.001 in cash (rounded to the nearest cent) for each whole share of Preferred Stock.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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