Authid Inc.

05/31/2023 | Press release | Distributed by Public on 05/31/2023 14:01

Statement of Changes in Beneficial Ownership - Form 4

Check this box if no longer subject to Section 16, Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Washington, D.C. 20549
STATEMENT OF CHANGES IN 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
OMB Number:3235-0287Expires:January 31, 2005Estimated average burden hours per response...0.5
1. Name and Address of Reporting Person *
Garchik Stephen Jeffrey
2. Issuer Name and Ticker or Trading Symbol
authID Inc. [AUID]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
3. Date of Earliest Transaction (Month/Day/Year)
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Join/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code 4. Securities Acquired (A) or Disposed of (D) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) 6. Ownership Form: Direct (D) or Indirect (I) 7. Nature of Indirect Beneficial Ownership
Code V Amount (A) or (D) Price
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security 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 5. Number of Derivative Securities Acquired (A) or Disposed of (D) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security 8. Price of Derivative Security 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) 11. Nature of Indirect Beneficial Ownership
Code V (A) (D) Date Exercisable Expriation Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Garchik Stephen Jeffrey




/s/ Stephen Jeffrey Garchik 2023-05-31
**Signature of Reporting Person Date

Explanation of Responses:

(*) 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).
(1) Stephen J. Garchik ("Mr. Garchik") disclaims beneficial ownership of any and all of the Issuer's securities reported herein in excess of its actual pecuniary interest.
(2) Held by the Garchik Irrevocable 2019 Trust (the "2019 Trust") of which Mr. Garchik is a trustee
(3) Held by Garchik Universal Limited Partnership, which Mr. Garchik jointly controls with his sister.
(4) Held by Marla Garchik Irrevocable 2020 Trust (the "2020 Trust") of which Mr. Garchik is a beneficiary.
(5) Held by the 2019 Trust.
(6) Includes the conversion of a promissory note in the amount of $929,250 and the investment of $500,000 in connection with the Issuer's private placement.
(7) On May 23, 2023, Mr. Garchik and the Company entered into an exchange agreement whereby Mr. Garchik exchanged the March 2022 Senior Secured Convertible Note in the amount of $1,014,625, which reflects principal and interest, for 2,149,629 shares of common stock at a per share price of $0.472.
(8) The reporting person received shares of common stock as payment of interest for each quarter associated with the Senior Secured Convertible Note dated March 21, 2022.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.