Forza X1 Form 4 / JOSEPH C VISCONTI ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

VISCONTI JOSEPH C

(Last)

(First)

(Middle)

C/O FORZA X1, INC.

3101 S. US-1

(Street)

FT. PIERCE

34982

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Forza X1, Inc. [ FRZA ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
CEO, Executive Chairman, CPO

3. Date of Earliest Transaction (Month/Day/Year)
11/26/2024

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/26/2024		D		98,442⁽¹⁾	D	⁽¹⁾	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. 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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$5	11/26/2024		D			400,000⁽²⁾	⁽²⁾	08/11/2032	Common Stock	244,666	⁽³⁾	0	D
Stock Option (Right to Buy)	$1.33	11/26/2024		D			100,000⁽⁴⁾	⁽⁴⁾	12/15/2032	Common Stock	61,166	⁽⁵⁾	0	D
Stock Option (Right to Buy)	$0.6963	11/26/2024		D			144,000⁽⁶⁾	⁽⁶⁾	10/04/2033	Common Stock	88,079	⁽⁷⁾	0	D

Explanation of Responses:

1. Disposed of pursuant to the merger (the "Merger") of Twin Vee Merger Sub, Inc. a Delaware corporation and wholly owned subsidiary of Twin Vee PowerCats Co., a Delaware corporation ("Twin Vee"), into Forza X1, Inc. ("Forza"), in exchange for 60,213 shares of Twin Vee common stock. Each share of Forza common stock was exchanged for 0.611666275 shares of Twin Vee common stock on the effective date of the Merger.

2. Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on September 1, 2022.

3. This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 244,666 shares of Twin Vee common stock for $8.17 per share.

4. Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on January 15, 2023.

5. This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 61,166 shares of Twin Vee common stock for $2.17 per share.

6. Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on November 4, 2023.

7. This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 88,079 shares of Twin Vee common stock for $1.138 per share.

	/s/ Joseph Visconti	11/26/2024
	** 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 4 (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).
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Forza X1 (FRZA) Form 4Forza X1 / JOSEPH C VISCONTI ownership change