4//SEC Filing
Bair Brian 4
Accession 0000899243-21-035199
CIK 0001825024other
Filed
Sep 2, 8:00 PM ET
Accepted
Sep 3, 6:35 PM ET
Size
17.2 KB
Accession
0000899243-21-035199
Insider Transaction Report
Form 4
Bair Brian
DirectorChief Executive Officer
Transactions
- Award
Class A Common Stock
2021-09-01+2,648,229→ 2,648,229 total(indirect: By Trust) - Award
Class A Common Stock
2021-09-01+12,168,007→ 12,168,007 total - Award
Class B Common Stock
2021-09-01+14,816,236→ 14,816,236 total→ Class A Common Stock (14,816,236 underlying) - Award
Stock Options
2021-09-01+124,463→ 124,463 totalExercise: $0.69Exp: 2027-07-10→ Class A Common Stock (124,463 underlying) - Award
Stock Options
2021-09-01+968,418→ 968,418 totalExercise: $0.73Exp: 2027-02-09→ Class A Common Stock (968,418 underlying) - Award
Stock Options
2021-09-01+1,792,809→ 1,792,809 totalExercise: $0.69Exp: 2027-02-09→ Class A Common Stock (1,792,809 underlying)
Footnotes (5)
- [F1]On September 1, 2021, pursuant to that certain Agreement and Plan of Merger, dated as of March 17, 2021, by and among the Issuer, Orchids Merger Sub LLC ("Merger Sub") and OfferPad, Inc. ("Old Offerpad"), Merger Sub merged with and into Old Offerpad with Old Offerpad surviving as a wholly owned subsidiary of Supernova Partners Acquisition Company, Inc., which changed its name to Offerpad Solutions, Inc. (the "Merger"). Upon consummation of the Merger each issued and outstanding share of common stock of Old Offerpad was automatically cancelled and converted into approximately 7.533 (the "Exchange Ratio") shares of Class A common stock of the Issuer.
- [F2]Each Class B common stock representes a contingent right to receive one share of Class A common stock.
- [F3]Each share of Class B common stock is convertible at any time at the option of the holder into one share of the Issuer's Class A common stock or upon the earliest to occur of (a) the date that is nine months following the date on which Mr. Bair (x) is no longer providing services, whether upon death, resignation, removal or otherwise, to Offerpad Solutions as a member of the senior leadership team, officer or director and (y) has not provided any such services for the duration of such nine-month period; and (b) the date as of which the Mr. Bair or his permitted transferees have transferred, in the aggregate, more than seventy-five (75%) of the shares of Class B common stock that were held by Mr. Bair and his permitted transferees as of September 1, 2021.
- [F4]The option is vested and fully exercisable.
- [F5]Upon consummation of the Merger, each issued and outstanding option to purchase one share of common stock of Old Offerpad was automatically cancelled and converted into an option to purchase approximately 7.533 shares of Class A common stock of the Issuer, and the exercise price was adjusted by the Exchange Ratio.
Documents
Issuer
Offerpad Solutions Inc.
CIK 0001825024
Entity typeother
Related Parties
1- filerCIK 0001877794
Filing Metadata
- Form type
- 4
- Filed
- Sep 2, 8:00 PM ET
- Accepted
- Sep 3, 6:35 PM ET
- Size
- 17.2 KB