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*
Savage Mark S

(Last) (First) (Middle)
13911 RIDGEDALE DRIVE, SUITE 375

(Street)
MINNETONKA MN 55305

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
KonaTel, Inc. [ KTEL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/24/2018
4. If Amendment, Date of Original Filed (Month/Day/Year)
12/18/2017
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)
Code V Amount (A) or (D) Price
Common Stock 04/24/2018 J(1) 12,100,000 D $0 0 I M2 Equity Partners LLC
Common Stock 04/24/2018 J(2) 3,950,000 A $0 3,950,000 D
Common Stock 06/08/2018 P 50,000 A $0.2 4,000,000 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options $0.22 03/18/2018 03/18/2023 Common Stock 31,250 31,250 D
Options $0.22 06/18/2018 06/18/2023 Common Stock 31,250 62,500 D
Options $0.22 09/18/2018 09/18/2023 Common Stock 31,250 93,750 D
Options $0.22 12/18/2018 12/18/2023 Common Stock 31,250 125,000 D
Options $0.22 03/18/2019 03/18/2024 Common Stock 31,250 156,250 D
Options $0.22 06/18/2019 06/18/2024 Common Stock 31,250 187,500 D
Options $0.22 09/18/2019 09/18/2024 Common Stock 31,250 218,750 D
Options $0.22 12/18/2019 12/18/2024 Common Stock 31,250 250,000 D
Explanation of Responses:
1. On April 24, 2018, the 12,100,000 shares of our common stock that were acquired by M2 Equity Partners, LLC, under a Common Stock Purchase Agreement were distributed to its members, pro rata, in accordance with their respective membership interests. This action was approved by the requisite members to M2 Equity Partners, LLC, on April 9, 2018. All of these transferred shares remain subject to the Shareholder Voting Agreement and the Lock-Up/Leak-Out Agreement, see Exhibit 9 to the Amended Current Report on Form 8-K/A dated November 15, 2017, and filed with the Securities and Exchange Commission on December 20, 2017.
2. Number of shares Mr. Savage received in the M2 Equity Partners LLC distribution on April 24, 2018. See Footnote 1.
/s/ Mark Savage 06/21/2018
** 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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