Kaival Brands Innovations Form 3 / Stephen Alan Sheriff ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Sheriff Stephen Alan

(Last)

(First)

(Middle)

C/O KAIVAL BRANDS INNOVATIONS GROUP, INC

4460 OLD DIXIE HIGHWAY

(Street)

GRANT-VALKARIA

32949

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/22/2023

3. Issuer Name and Ticker or Trading Symbol
Kaival Brands Innovations Group, Inc. [ KAVL ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
COO & IRO

5. If Amendment, Date of Original Filed (Month/Day/Year)

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	134,500	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option⁽¹⁾	08/01/2032	08/01/2032	Common Stock	25,000	1.16	D
Stock Option	⁽²⁾	02/06/2033	Common Stock	25,000	0.73	D

Explanation of Responses:

1. On August 1, 2022, the Reporting Person received this 10-year, non-qualified stock option as part of his 2022 compensation. The option fully vested on the date of the grant.

2. On February 6, 2023, the Reporting Person received this 10-year, non-qualified stock option as part of his 2023 compensation. The option will become fully vested and exercisable upon the earlier of: (a) February 6, 2024; or (b) the Company undergoes a Change of Control, as defined in the option grant.

	/s/ Stephen A. Sheriff	08/25/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Kaival Brands Innovations (KAVL) Form 3Kaival Brands Innovations / Stephen Alan Sheriff ownership change