LEDECKY JONATHAN J 4
4 · Pivotal Investment Corp III · Filed Jan 3, 2023
Insider Transaction Report
Form 4
Pivotal Investment Holdings III LLC
10% Owner
Transactions
- Conversion
Class B Common Stock
2022-12-30−6,540,000→ 0 total(indirect: By LLC)Exercise: $0.00→ Class A Common Stock (6,540,000 underlying) - Conversion
Class A Common Stock
2022-12-30+6,540,000→ 6,540,000 total(indirect: By LLC)
Footnotes (2)
- [F1]The Class B Common Stock will convert into Class A Common Stock upon the earlier of (1) request by the holder or (2) automatically at the time of the Issuer's initial business combination. Such conversion shall be on a one-for-one basis, subject to adjustment. The Class B Common Stock has no exercise or conversion price, nor expiration date.
- [F2]These shares are owned directly by Pivotal Investment Holdings III LLC, a ten percent owner of the issuer, and indirectly by its managing members, Ironbound Partners Fund, LLC and Pivotal Spac Funding III LLC. Ironbound Partners Fund, LLC is an affiliate of Jonathan Ledecky, the Issuer's Chairman. Pivotal Spac Funding III LLC is an affiliate of MGG Investment Group, LP, whose Chief Executive Officer is Kevin Griffin, the Chief Executive Officer and a director of the Issuer. Each of Mr. Ledecky, Ironbound Partners Fund, LLC, Pivotal Spac Funding III LLC, MGG Investment Group, LP, and Mr. Griffin disclaim beneficial ownership of the securities held by Pivotal Investment Holdings III LLC, except to the extent of his or its pecuniary interest therein.