DT GRAT CS, LLC 4
4 · Switch, Inc. · Filed Sep 8, 2020
Insider Transaction Report
Form 4
Switch, Inc.SWCH
DT GRAT CS, LLC
10% Owner
Transactions
- Other
Class B Common Stock
2020-09-03−3,500,000→ 9,987,880 total - Other
Common Units
2020-09-03−3,500,000→ 9,987,880 total→ Class A Common Stock (3,500,000 underlying)
Holdings
- 200,000
Class A Common Stock
Footnotes (1)
- [F1]On September 3, 2020, the Reporting Person transferred to First St Switch LLC, a Nevada limited liability company, 3,500,000 common membership units in Switch, Ltd. ("Common Units"), and a corresponding number of shares of Class B Common Stock of the Issuer ("Class B Shares") (one Common Unit and one Class B Share, together, a "Unit Interest"), in exchange for $16.45 per Unit Interest. The Common Units are convertible (the "Right") into shares of Class A Common Stock of the Issuer ("Class A Shares") on a one-for-one basis or, at the election of the Issuer, cash equal to a volume weighted average market price of the Class A Shares. Upon exercise of the Right, one Class B Share, which confers only voting rights, is forfeited and cancelled, on a one-for-one basis, without consideration, for each Common Unit redeemed. The Common Units are redeemable at any time at the election of the holder thereof and have no expiration date.