4//SEC Filing
Adcock Brett 4
Accession 0001104659-23-068907
CIK 0001824502other
Filed
Jun 6, 8:00 PM ET
Accepted
Jun 7, 4:24 PM ET
Size
17.2 KB
Accession
0001104659-23-068907
Insider Transaction Report
Form 4
Adcock Brett
DirectorCo-Chief Executive Officer10% Owner
Transactions
- Conversion
Class B Common Stock
2023-06-05−864,966→ 18,865,039 total(indirect: See Footnote (6).)→ Class A Common Stock (864,966 underlying) - Conversion
Class A Common Stock
2023-06-06+1,000,000→ 1,000,000 total(indirect: See Footnote) - Conversion
Class A Common Stock
2023-06-05+864,966→ 864,966 total(indirect: See Footnote) - Sale
Class A Common Stock
2023-06-05$3.02/sh−864,966$2,615,484→ 0 total(indirect: See Footnote) - Sale
Class A Common Stock
2023-06-06$3.08/sh−1,000,000$3,084,700→ 0 total(indirect: See Footnote) - Conversion
Class B Common Stock
2023-06-06−1,000,000→ 17,865,039 total(indirect: See Footnote (6).)→ Class A Common Stock (1,000,000 underlying)
Holdings
- 4,159,347
Class A Common Stock
Footnotes (6)
- [F1]Each share of the Issuer's Class B common stock is convertible into one share of the Issuer's Class A common stock at any time and will convert automatically upon certain transfers, whether or not for value, or upon the earliest to occur of: (i) September 16, 2031; (ii) the date specified in writing by the holders of two-thirds of the then outstanding shares of Class B common stock; and (iii) the date as of which the number of outstanding shares of Class B common stock represents less than 10.0% of the aggregate number of shares of Class B common stock and Class A common stock outstanding.
- [F2]On June 5, 2023, the reporting persons directed the sale of 864,966 shares of the Issuer's Class B common stock, resulting in the automatic conversion of the shares into 864,966 shares of the Issuer's Class A common stock.
- [F3]On June 6, 2023, the reporting persons directed the sale of 1,000,000 shares of the Issuer's Class B common stock, resulting in the automatic conversion of the shares into 1,000,000 shares of the Issuer's Class A common stock.
- [F4]Weighted average price. These shares were sold in multiple transactions at prices ranging from $3.0000 to $3.0850 inclusive. The reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the Securities Exchange Commission (the "SEC"), upon request, full information regarding the shares sold at each separate price within the range set forth in this footnote (4) to this Form 4.
- [F5]Weighted average price. These shares were sold in multiple transactions at prices ranging from $3.0200 to $3.1500 inclusive. The reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the shares sold at each separate price within the range set forth in this footnote (5) to this Form 4.
- [F6]The shares are held by Hight Drive Growth LLC ("Hight Drive"). Mr. Adcock is the sole managing member of Hight Drive and, as such, has voting and investment discretion with respect to the securities held directly by it.
Documents
Issuer
Archer Aviation Inc.
CIK 0001824502
Entity typeother
Related Parties
1- filerCIK 0001882416
Filing Metadata
- Form type
- 4
- Filed
- Jun 6, 8:00 PM ET
- Accepted
- Jun 7, 4:24 PM ET
- Size
- 17.2 KB