Jacoby & Co. Inc. 4
4 · Greenlane Holdings, Inc. · Filed Apr 7, 2021
Insider Transaction Report
Form 4
Jacoby & Co. Inc.
10% Owner
Transactions
- Conversion
Class C Common Stock
2021-04-05−1,762,875→ 59,958,138 total - Other
Class A Common Stock
2021-04-05−587,625→ 0 total - Conversion
Class A Common Stock
2021-04-05+587,625→ 587,625 total - Conversion
Common Units
2021-04-05−587,625→ 19,986,046 total→ Class A Common Stock (587,625 underlying)
Footnotes (3)
- [F1]Pursuant to the Third Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operting 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, three shares of Class C Common Stock are automatically forfeited and cancelled for each Common Unit so redeemed.
- [F2]On April 5, 2021, the Reporting Person received 587,625 shares of Class A Common Stock in connection with the redemption of 587,625 Common Units, which shares of Class A Common Stock were distributed to the shareholders of the Reporting Person. 1,762,875 shares of Class C Common Stock were subsequently cancelled.
- [F3]The Common Units have no expiration date.