White John Joseph JR 4
4 · Shoals Technologies Group, Inc. · Filed Dec 9, 2021
Insider Transaction Report
Form 4
White John Joseph JR
Chief Operating Officer
Transactions
- Conversion
Class B Common Stock
2021-12-07−132,954→ 221,595 total(indirect: See footnote) - Conversion
Class A Common Stock
2021-12-07+132,954→ 140,606 total - Conversion
Common Units
2021-12-07−132,954→ 221,595 total(indirect: See footnote)→ Class A Common Stock (132,954 underlying)
Footnotes (2)
- [F1]Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Shoals Parent LLC ("Parent"), the Reporting Person, who holds the reported securities indirectly through Parent, may, subject to certain exceptions, from time to time at his option, require Parent to redeem all or a portion of her Parent common units ("Common Units") (together with an equal number of shares of the Issuer's Class B Common Stock which are forfeited for no consideration) in exchange for, at the Issuer's election (determined solely by a majority of the Issuer's directors who are disinterested), newly issued shares of the Issuer's Class A Common Stock on a one-for-one basis or a cash payment equal to a volume-weighted average market price of one share of Class A Common Stock for each Common Unit so redeemed.
- [F2]In connection with the expiration of the post-IPO related lockup, the Reporting Persons converted 132,954 Common Units (together with a corresponding number of shares of the Issuer's Class B Common Stock) into an equivalent number of shares of the Issuer's Class A Common Stock.