Jacoby & Co. Inc. 4
4 · Greenlane Holdings, Inc. · Filed Jul 21, 2022
Insider Transaction Report
Form 4
Jacoby & Co. Inc.
10% Owner
Transactions
- Conversion
Class A Common Stock
2022-07-19+15,998,046→ 15,998,046 total - Other
Class A Common Stock
2022-07-19−15,998,046→ 0 total - Other
Class B Common Stock
2022-07-19−15,998,046→ 0 total - Conversion
Common Units
2022-07-19−15,998,046→ 0 total→ Class A Common Stock (15,998,046 underlying)
Footnotes (3)
- [F1]Pursuant to the Fourth Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operating Company (the "Common Units") are redeemable on a one-for-one basis for shares of Class A common stock of the Issuer, or, at the election of the Issuer, cash equal to a volume weighted average market price of a share of Class A common stock. Upon any redemption of Common Units, one share of Class B common stock is automatically forfeited and cancelled for each Common Unit so redeemed.
- [F2]On July 19, 2022, the Reporting Person received 15,998,046 shares of Class A common stock in connection with the redemption of 15,998,046 Common Units, which shares of Class A common stock were distributed to the shareholders of the Reporting Person. 15,998,046 shares of Class B common stock were cancelled in connection with the redemption.
- [F3]The Common Units had no expiration date.