4//SEC Filing
Adcock Brett 4
Accession 0001104659-23-071675
CIK 0001824502other
Filed
Jun 14, 8:00 PM ET
Accepted
Jun 15, 5:15 PM ET
Size
17.2 KB
Accession
0001104659-23-071675
Insider Transaction Report
Form 4
Adcock Brett
DirectorCo-Chief Executive Officer10% Owner
Transactions
- Sale
Class A Common Stock
2023-06-13$4.36/sh−1,236,698$5,386,191→ 0 total(indirect: See Footnote) - Sale
Class A Common Stock
2023-06-14$4.67/sh−825,420$3,852,813→ 0 total(indirect: See Footnote) - Conversion
Class B Common Stock
2023-06-13−1,236,698→ 14,258,795 total(indirect: See Footnote (6).)→ Class A Common Stock (1,236,698 underlying) - Conversion
Class B Common Stock
2023-06-14−825,420→ 13,433,375 total(indirect: See Footnote (6).)→ Class A Common Stock (825,420 underlying) - Conversion
Class A Common Stock
2023-06-13+1,236,698→ 1,236,698 total(indirect: See Footnote) - Conversion
Class A Common Stock
2023-06-14+825,420→ 825,420 total(indirect: See Footnote)
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 13, 2023, the reporting persons directed the sale of 1,236,698 shares of the Issuer's Class B common stock, resulting in the automatic conversion of the shares into 1,236,698 shares of the Issuer's Class A common stock.
- [F3]On June 14, 2023, the reporting persons directed the sale of 825,420 shares of the Issuer's Class B common stock, resulting in the automatic conversion of the shares into 825,420 shares of the Issuer's Class A common stock.
- [F4]Weighted average price. These shares were sold in multiple transactions at prices ranging from $4.1000 to $4.5650 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 $4.6000 to $4.7900 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 14, 8:00 PM ET
- Accepted
- Jun 15, 5:15 PM ET
- Size
- 17.2 KB