4//SEC Filing
SCHWAB CHARLES R JR. 4
Accession 0000950170-25-049552
CIK 0001840780other
Filed
Apr 1, 8:00 PM ET
Accepted
Apr 2, 5:09 PM ET
Size
8.2 KB
Accession
0000950170-25-049552
Insider Transaction Report
Form 4
SCHWAB CHARLES R JR.
Director
Transactions
- Purchase
Series A Convertible Preferred Stock
2025-03-31$2.00/sh+429,137$858,274→ 429,137 total→ Common Stock (429,137 underlying) - Purchase
Common Stock
2025-03-31$2.00/sh+70,863$141,726→ 70,863 total
Footnotes (2)
- [F1]On March 31, 2025, the Reporting Person, certain other purchasers and Local Bounti Corporation (the "Issuer") entered into an agreement (the "Securities Purchase Agreement") under which the Reporting Person purchased from the Issuer 429,137 shares of Series A Non-Voting Convertible Preferred Stock ("Preferred Stock") at a price of $2 per share. (Con't in Footnote 2)
- [F2]Pursuant to the terms of the Securities Purchase Agreement, the Issuer will submit to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). Prior to such approval of the Conversion Proposal, the number of shares of Common Stock issuable upon conversion of the Preferred Stock, when aggregated with the number of shares of Common Stock issued at the closing of the Securities Purchase Agreement, will not exceed 19.99% of the Issuer's issued and outstanding Common Stock. Following such approval of the Conversion Proposal, each share of Preferred Stock will automatically convert into one share of Common Stock. The Preferred Stock is redeemable at the option of the holder at the purchase price if not automatically converted within one year from the date of issuance. The Preferred Stock has no expiration date.
Documents
Issuer
Local Bounti Corporation/DE
CIK 0001840780
Entity typeother
Related Parties
1- filerCIK 0001125972
Filing Metadata
- Form type
- 4
- Filed
- Apr 1, 8:00 PM ET
- Accepted
- Apr 2, 5:09 PM ET
- Size
- 8.2 KB