Schoenfeld Adam 4
4 · Greenlane Holdings, Inc. · Filed Dec 16, 2022
Insider Transaction Report
Form 4
Schoenfeld Adam
DirectorChief Strategy Officer10% Owner
Transactions
- Conversion
Class A Common Stock
2022-12-15+76,136→ 159,487 total - Other
Class B Common Stock
2022-12-15−76,136→ 0 total - Conversion
Common Units
2022-12-15−76,136→ 0 total→ Class A Common Stock (76,136 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. On December 15, 2022, the Reporting Person tendered 76,136 Common Units for redemption and was issued 76,136 shares of Class A common stock.
- [F2]Effective August 9, 2022, the Issuer effected a 1-for-20 reverse stock split (the "Reverse Split") of its issued and outstanding shares of Class A common stock and Class B common stock. Cash was paid in lieu of any fractional shares resulting from the Reverse Split. The Reporting Person's beneficial ownership in this Form 4 has been adjusted for the Reverse Split.
- [F3]The Common Units have no expiration date.