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I was checking a Chronological Insider Trades report and noticed these buys with zero price. Are these bonuses given to board members as company stocks?

trade list

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They are the exercise of warrants allowing an employee to obtain stock at no cost.

For example, insiders often own stock options or warrants awarded to them by their company (approved by the Board). The initial grant of these derivatives is first recorded in the Derivative section of a Form 4. But when/if insiders convert them (also referred to as exercise) into ownership of common stock at predetermined prices (usually below market prices and sometimes at zero), the transaction shows up in the Non-Derivative table.

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    Does this affect the shares outstanding? Or is the stock secured by the warrant already counted?
    – Kenneth Worden
    Apr 12, 2020 at 23:52

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