Bair Brian 4
4 · Offerpad Solutions Inc. · Filed Sep 7, 2022
Insider Transaction Report
Form 4
Bair Brian
DirectorChief Executive Officer
Transactions
- Tax Payment
Class A Common Stock
2022-09-02$1.40/sh−30,211$42,295→ 12,510,004 total
Holdings
- 2,648,229(indirect: By Trust)
Class A Common Stock
- 311,245(indirect: By Trust)
Class B Common Stock
→ Class A Common Stock (311,245 underlying) - 14,504,991
Class B Common Stock
→ Class A Common Stock (14,504,991 underlying)
Footnotes (4)
- [F1]Represents shares withheld by the Issuer to satisfy tax withholding obligations on the vesting of restricted stock units.
- [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]Reflects a change in form of beneficial ownership of 311,245 shares of Class B common stock. The transfer was exempt pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.