Concord Sponsor Group LLC 4
4 · Concord Acquisition Corp · Filed Dec 14, 2020
Insider Transaction Report
Form 4
Concord Sponsor Group LLC
10% Owner
Transactions
- Purchase
Class A Common Stock
2020-12-10+510,289→ 5,940,289 total
Footnotes (2)
- [F1]Simultaneously with the Issuer's initial public offering, Concord Sponsor Group, LLC (the "Sponsor") acquired, at a price of $10.00 per unit, 510,289 units (the "Private Units") in a private placement for an aggregate purchase price of $5,102,890. Each Private Unit consists of one share of common stock and one-half of one warrant.
- [F2]The Sponsor is governed by a board of managers consisting of three managers, Bob Diamond, David Schamis and Jeff Tuder. Any action by the Sponsor with respect to the issuer or the issuer's securities held by the Sponsor, including voting and dispositive decisions, requires at least a majority vote of the managers of the board of managers. Under the so-called "rule of three", because voting and dispositive decisions are made by a majority of the managers, none of the managers is deemed to be a beneficial owner of issuer's securities held by the Sponsor, even those in which such manager holds a pecuniary interest. Accordingly, none of the managers on Sponsor's board of managers is deemed to have or share beneficial ownership of the founder shares held by the Sponsor.