STANFORD FREDERICK 4
4 · i3 Verticals, Inc. · Filed Nov 23, 2021
Insider Transaction Report
Form 4
STANFORD FREDERICK
President
Transactions
- Conversion
Class A common stock, par value $0.0001 per share
2021-11-22+15,000→ 15,000 total - Sale
Class A common stock, par value $0.0001 per share
2021-11-22$22.25/sh−964$21,449→ 0 total - Sale
Class A common stock, par value $0.0001 per share
2021-11-22$21.14/sh−14,036$296,721→ 964 total - Conversion
Common Units
2021-11-22−15,000→ 117,577 total→ Class A common stock, par value $0.0001 per share (15,000 underlying) - Other
Class B common stock, par value $0.0001 per share
2021-11-22−15,000→ 117,577 total
Footnotes (6)
- [F1]Represents shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") of i3 Verticals, Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common units in i3 Verticals, LLC (the "Common Units").
- [F2]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 14, 2021.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.51 to $21.42, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B common stock, par value $0.0001 per share ("Class B Common Stock") are cancelled for no consideration on a one-to-one basis upon redemption of the Common Units for shares of Class A Common Stock of the Issuer.
- [F5]The vested Common Units may be redeemed by the Reporting Person at any time for an equal number of shares of Class A Common Stock or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon the Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled.
- [F6]All Common Units are fully vested and have no expiration date.