SKYX Platforms Corp. Files DEF 14A for Fiscal Year Ended December 31, 2023

TL;DR

<b>SKYX Platforms Corp. has filed its DEF 14A, detailing executive compensation and stock award information for the 2023 fiscal year.</b>

AI Summary

SKYX Platforms Corp. (SKYX) filed a Proxy Statement (DEF 14A) with the SEC on May 16, 2024. SKYX Platforms Corp. filed a DEF 14A with the SEC for the fiscal year ending December 31, 2023. The filing covers executive compensation details for members identified as Peo1Member and Peo2Member. It includes data on stock and option awards granted, vested, and outstanding during the fiscal years 2022 and 2023. Specific metrics such as Grant Date Fair Value, Fair Value at Fiscal Year End, and Change in Fair Value are detailed for these awards. The company was formerly known as SQL Technologies Corp. and Safety Quick Lighting & Fans Corp.

Why It Matters

For investors and stakeholders tracking SKYX Platforms Corp., this filing contains several important signals. This filing provides transparency into the compensation structure for key executives, which can influence investor perception of management alignment and company strategy. Understanding the details of stock and option awards, including their fair value and vesting conditions, is crucial for assessing potential dilution and the long-term incentives of the management team.

Risk Assessment

Risk Level: low — SKYX Platforms Corp. shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate red flags indicating high risk.

Analyst Insight

Investors should review the executive compensation details and stock award valuations to understand potential impacts on shareholder value and management incentives.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 2024-05-16 — Filing Date (Date the DEF 14A was filed)
• 2022-01-01 — Start Date for Award Data (Beginning of the period for which award data is presented)
• 2023-01-01 — Start Date for Award Data (Beginning of the period for which award data is presented)

Key Players & Entities

• SKYX Platforms Corp. (company) — Filer of the DEF 14A
• SQL Technologies Corp. (company) — Former name of SKYX Platforms Corp.
• Safety Quick Lighting & Fans Corp. (company) — Former name of SKYX Platforms Corp.
• 2023-12-31 (date) — Fiscal year end
• 2024-05-16 (date) — Filing date
• 2855 W. MCNAB ROAD (address) — Business and mailing address
• POMPANO BEACH (location) — City for business and mailing address
• FL (location) — State for business and mailing address

FAQ

Industry Context

SKYX Platforms Corp. operates in the electric lighting & wiring equipment industry.

Regulatory Implications

The filing is a DEF 14A (Definitive Proxy Statement) under the Securities Exchange Act of 1934, used to solicit proxies from shareholders for annual meetings.

What Investors Should Do

1. Analyze the specific stock and option award grants to key executives for 2022 and 2023.
2. Review the fair value calculations and vesting schedules for these awards to assess potential future dilution.
3. Compare executive compensation trends with industry peers if comparable data becomes available.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for financial and compensation data.
• 2024-05-16: Filing Date — Date the DEF 14A was officially submitted to the SEC.

Year-Over-Year Comparison

This is the DEF 14A filing for the fiscal year ended December 31, 2023, providing updated executive compensation and stock award information compared to previous filings.

Filing Documents

• formdef14a.htm (DEF 14A) — 1152KB
• formdef14a_001.jpg (GRAPHIC) — 17KB
• proxycard_001.jpg (GRAPHIC) — 207KB
• proxycard_002.jpg (GRAPHIC) — 198KB
• 0001493152-24-020254.txt (&nbsp;) — 2849KB
• skyx-20231231.xsd (EX-101.SCH) — 6KB
• skyx-20231231_def.xml (EX-101.DEF) — 10KB
• skyx-20231231_lab.xml (EX-101.LAB) — 63KB
• skyx-20231231_pre.xml (EX-101.PRE) — 43KB
• formdef14a_htm.xml (XML) — 97KB

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 48 Changes in Control 49 DELINQUENT SECTION 16(a) REPORTS 50 AUDIT COMMITTEE REPORT 51 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 52 Related Party Transactions 52 Policies and Procedures for Related Party Transactions 53 OTHER INFORMATION 54 Annual Report 54 Stockholder Proposals for the 2025 Annual Meeting 54

Forward-Looking Statements

Forward-Looking Statements 54 Our Website 55 OTHER MATTERS 55 APPENDIX A A-1 i SKYX PLATFORMS CORP. 2855 W. McNab Road Pompano Beach, Florida 33069 PROXY FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JULY 10, 2024 GENERAL INFORMATION These proxy materials are being furnished in connection with the solicitation of proxies by the Board of Directors (the "Board of Directors" or the "Board") of SKYX Platforms Corp., a Florida corporation (the "Company," "we," "us" or "our"), for the Annual Meeting of Stockholders (the "Annual Meeting") to be held on July 10, 2024 at 2855 W. McNab Road, Pompano Beach, Florida 33069 at 11:00 a.m. Eastern Time, and at any adjournments or postponements of the Annual Meeting. The proxy materials, including this proxy statement, Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report"), and form of proxy card, or the Notice of Internet Availability of Proxy Materials (the "Notice"), will be mailed to stockholders on or about May 22, 2024. QUESTIONS AND ANSWERS ABOUT THIS PROXY MATERIAL AND VOTING Why did I receive in the mail a Notice of Internet Availability of Proxy Materials instead of a full set of proxy materials? We are pleased to take advantage of the rules of the U.S. Securities and Exchange Commission (the "SEC") that allow us to furnish our proxy materials over the Internet, which helps the environment and reduces the costs associated with printing and distributing our proxy materials. Accordingly, we have sent to our beneficial owners and stockholders of record the Notice. Instructions on how to access the proxy materials over the Internet or to request a paper copy may be found in the Notice. Stockholders may request to receive proxy materials in printed form by mail or electronically on an ongoing basis. A stockholder's election to receive proxy materials by mail or electronically by email will remain in effect until the stockholder terminates suc

View Full Filing

View this DEF 14A filing on SEC EDGAR