4//SEC Filing
Sacks Michael Jay 4
Accession 0000921895-25-001927
CIK 0001899883other
Filed
Jul 1, 8:00 PM ET
Accepted
Jul 2, 2:04 PM ET
Size
21.6 KB
Accession
0000921895-25-001927
Insider Transaction Report
Form 4
Labor Impact Fund, L.P.
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
GCM Investments GP, LLC
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
GCM Grosvenor Inc.
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
GCM Grosvenor Holdings, LLC
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
Grosvenor Capital Management Holdings, LLLP
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
LIF AIV 1, L.P.
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
Sacks Michael Jay
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
GCM V, LLC
Director10% Owner
Transactions
- Other
Series B Preferred Stock
2025-06-30+0→ 160,000 total(indirect: See footnote)Exercise: $8.18From: 2025-02-26→ Common Stock (498,964 underlying)
Footnotes (5)
- [F1]Consists of Series B Convertible Junior Preferred Stock (the "Series B Preferred Stock") of FTAI Infrastructure Inc. (the "Issuer") held by LIF AIV 1, L.P. ("LIF AIV") and Labor Impact Fund, L.P. ("Labor Impact Fund"). Each share of Series B Preferred Stock is convertible at any time at the option of the holder into a number of shares of common stock, par value $0.01 per share ("Common Stock"), of the Issuer equal to the quotient of the Liquidation Value (as defined in the Certificate of Designations governing the Series B Preferred Stock) in effect at the time of conversion divided by the Conversion Price (each as defined in the Certificate of Designations governing the Series B Preferred Stock).
- [F2]LIF AIV and Labor Impact Fund received a dividend on 160,000 shares of Series B Preferred Stock owned by LIF AIV and Labor Impact Fund on the dividend record date by way of an increase in the Stated Value of such Series B Preferred Stock. Such dividend represents a quarterly compounding regular dividend equal to 10% per annum with respect to the immediately preceding quarter in accordance with the terms of the certificate of designations governing the Series B Preferred Stock.
- [F3]Represents the additional number of shares of Common Stock into which the Series B Preferred Stock owned by LIF AIV and Labor Impact Fund is convertible as a result of the dividend. As of the date hereof, the Series B Preferred Stock owned in the aggregate by LIF AIV and Labor Impact Fund is convertible into a total of 20,238,166 shares of Common Stock.
- [F4]The shares of Series B Preferred Stock reported herein are held directly by LIF AIV and Labor Impact Fund, and indirectly by: (i) GCM Investments GP, LLC ("GCM GP") as the general partner of each of LIF AIV and Labor Impact Fund; (ii) Grosvenor Capital Management Holdings, LLLP ("Grosvenor Capital Holdings") as the sole member of GCM GP; (iii) GCM Grosvenor Holdings, LLC ("GCM Holdings") as the general partner of Grosvenor Capital Holdings; (iv) GCM Grosvenor Inc. ("GCM Grosvenor") as the sole member of GCM Holdings; (v) GCM V, LLC ("GCM V") as a shareholder of GCM Grosvenor; and (vi) Michael J. Sacks, as the manager of GCM V (collectively, the "Reporting Persons").
- [F5]Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock underlying the Series B Preferred Stock except to the extent of its or his pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Documents
Issuer
FTAI Infrastructure Inc.
CIK 0001899883
Entity typeother
Related Parties
1- filerCIK 0001509764
Filing Metadata
- Form type
- 4
- Filed
- Jul 1, 8:00 PM ET
- Accepted
- Jul 2, 2:04 PM ET
- Size
- 21.6 KB