Exhibit 4.1


 


DESCRIPTION OF SECURITIES 


REGISTERED PURSUANT TO SECTION 12 OF THE 


SECURITIES EXCHANGE ACT OF 1934


 


As of December 31, 2021, LogicMark, Inc. (the
“Company,” “we,” “us” or “our”) has one class of securities registered under Section 12
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock, par value $0.0001 per share (the
“Common Stock”).


 


General


 


The following description of our capital stock
and certain provisions of our certificate of incorporation, as amended (“Certificate of Incorporation”), and our by-laws (“Bylaws”)
are summaries and are qualified by reference to our Certificate of Incorporation and Bylaws. Copies of these documents can be accessed
through hyperlinks to those documents in the list of exhibits in our Annual Report on Form 10-K for the fiscal year ending December 31,
2021.


 


We are authorized to issue 110,000,000 shares
of its capital stock consisting of (a) 100,000,000 shares of Common Stock and (b) 10,000,000 shares of “blank check” preferred
stock, par value $0.0001 per share, of which 2,000 shares of preferred stock were designated as the Series C Non-Convertible Preferred
Stock, par value $0.0001 per share, and 1,333,333 shares of preferred stock were designated as the Series F Convertible Preferred Stock,
par value $0.0001 per share.


 


Common Stock


 


Each share of Common Stock entitles the holder
to one vote, either in person or by proxy, at meetings of stockholders. Our stockholders are not permitted to vote their shares cumulatively.
Accordingly, the holders of our Common Stock who hold, in the aggregate, more than 50% of the total voting rights can elect all of our
directors and, in such event, the holders of the remaining minority shares will not be able to elect any of such directors. The vote of
the holders of a majority of the issued and outstanding shares of Common Stock entitled to vote thereon is sufficient to authorize, affirm,
ratify or consent to such act or action, except as otherwise provided by law.


 


Holders of Common Stock are entitled to receive
ratably such dividends, if any, as may be declared by our board of directors out of funds legally available. We have not paid any dividends
since our inception, and we presently anticipate that all earnings, if any, will be retained for development of our business. Any future
disposition of dividends will be at the discretion of our board of directors and will depend upon, among other things, our future earnings,
operating and financial condition, capital requirements, and other factors.


 


Holders of our Common Stock have no preemptive
rights or other subscription rights, conversion rights, registration rights, redemption or sinking fund provisions by virtue of only holding
such shares. Upon our liquidation, dissolution or winding up, the holders of our Common Stock will be entitled to share ratably in the
net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities.


 


Anti-Takeover Provisions 


   


Provisions of the Delaware General Corporation
Law (the “DGCL”) and our Certificate of Incorporation and Bylaws could make it more difficult to acquire us by means of a
tender offer, a proxy contest or otherwise, or to remove incumbent officers and directors. These provisions, summarized below, are expected
to discourage certain types of coercive takeover practices and takeover bids that our board of directors may consider inadequate and to
encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of increased
protection of our ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh
the disadvantages of discouraging takeover or acquisition proposals because, among other things, negotiation of these proposals could
result in improved terms for our stockholders.


 






     


     


    

 


Section 203 of the DGCL. We are subject
to Section 203 of the DGCL, which generally prohibits a publicly held Delaware corporation from engaging in any “business combination”
with any interested stockholder for a period of three (3) years after the date that such stockholder became an interested stockholder,
with the following exceptions:


 


	 	●	before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder; 
	 	 	 
	 	●	upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (i) by persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or 
	 	 	 
	 	●	on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder. 


 


In general, Section 203 of the DGCL defines a
“business combination” to include the following:


 


	 	●	any merger or consolidation involving the corporation and the interested stockholder; 
	 	 	 
	 	●	any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder; 
	 	 	 
	 	●	subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; 
	 	 	 
	 	●	any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or 
	 	 	 
	 	●	the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. 


 


In general, Section 203 of the DGCL defines an
“interested stockholder” as an entity or person who, together with the person’s affiliates and associates, beneficially
owns, or within three (3) years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding
voting stock of the corporation.


 






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Anti-Takeover Effects of Certain Provisions of our Bylaws


 


Our Bylaws provide that directors may be removed
by the stockholders with or without cause upon the vote of a majority of the holders of Common Stock then entitled to vote. Furthermore,
the authorized number of directors may be changed only by resolution of our board of directors or of our stockholders, and vacancies may
only be filled by a majority vote of the directors, including those who may have resigned. Except as otherwise provided in the Bylaws
and the Certificate of Incorporation any vacancies or newly created directorships on our board of directors resulting from any increase
in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a
majority of the directors then in office, although less than a quorum, or by a sole remaining director.


 


Our Bylaws also provide that only our chairman
of the board of directors, chief executive officer, president or one or more stockholders holding shares in the aggregate entitled to
cast not less than ten percent of the votes at that meeting may call a special meeting of stockholders.


 


The combination of these provisions makes it more
difficult for our existing stockholders to replace our board of directors as well as for another party to obtain control of us by replacing
our board of directors. Since our board of directors has the power to retain and discharge our officers, these provisions could also make
it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated
preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that
could impede the success of any attempt to change our control.


 


These provisions are intended to enhance the likelihood
of continued stability in the composition of our board of directors and its policies and to discourage coercive takeover practices and
inadequate takeover bids. These provisions are also designed to reduce our vulnerability to hostile takeovers and to discourage certain
tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers
for our shares and may have the effect of delaying changes in our control or management. As a consequence, these provisions may also inhibit
fluctuations in the market price of our Common Stock that could result from actual or rumored takeover attempts. We believe that the benefits
of these provisions, including increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited
proposal to acquire or restructure the Company, outweigh the disadvantages of discouraging takeover proposals, because negotiation of
takeover proposals could result in an improvement of their terms.


 


Listing


 


Our Common Stock is listed on the Nasdaq Capital
Market under the symbol “LGMK”.


 


Transfer Agent and Registrar


 


The transfer agent and registrar for our Common
Stock is Nevada Agency and Transfer Company. The transfer agent’s address is 50 West Liberty Street, Suite 880, Reno NV 89501 and
its telephone number is (775) 322-0626.


 


 


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