Banyan Acquisition Sponsor LLC 4
4 · Banyan Acquisition Corp · Filed Apr 25, 2023
Insider Transaction Report
Form 4
Banyan Acquisition Sponsor LLC
DirectorOther
Transactions
- Conversion
Class A Common Stock
2023-04-21+2,000,000→ 2,000,000 total - Award
Class B Common Stock
2023-04-21+7,095,375→ 7,095,375 totalExercise: $0.00→ Class A Common Stock (7,095,375 underlying) - Conversion
Class B Common Stock
2023-04-21−2,000,000→ 5,095,375 totalExercise: $0.00→ Class A Common Stock (2,000,000 underlying)
Footnotes (2)
- [F1]In accordance with the amended and restated certificate of incorporation of Banyan Acquisition Corporation ("Banyan"), as amended, the Reporting Person elected to convert 2,000,000 shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis for no consideration.
- [F2]Pursuant to the amendment to the amended and restated certificate of incorporation of Banyan that became effective on April 21, 2023, the shares of Class B Common Stock held by the Reporting Person became convertible into shares of Class A Common Stock at any time at the Reporting Person's election on a one-for-one basis. The shares of Class B Common Stock also automatically convert into shares of Class A Common Stock at the time of the closing of Banyan's initial business combination on a one-for-one basis and have no expiration date.