LEDECKY JONATHAN J 4
4 · Pivotal Investment Corp III · Filed Jul 28, 2021
Insider Transaction Report
Form 4
Pivotal Investment Holdings III LLC
10% Owner
Transactions
- Sale
Class B Common Stock
2021-07-26$0.00/sh−60,000$240→ 6,540,000 total(indirect: By LLC)→ Class A Common Stock (60,000 underlying)
Footnotes (3)
- [F1]The Class B Common Stock will automatically convert into the Issuer's Class A Common Stock at the time of the Issuer's initial business combination on a one-for-one basis. The Class B Common Stock has no expiration date.
- [F2]The sale price of the shares is equal to the purchase price originally paid by the reporting person for such shares.
- [F3]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.