White Pine LLC - 02 Sep 2022 Form 4 Insider Report for Zevia PBC (ZVIA)

Role: 10%+ Owner
Signature: /s/ Joseph Phelps, attorney-in-fact
Issuer symbol: ZVIA
Transactions as of: 02 Sep 2022
Net transactions value: $0
Form type: 4
Filing time: 06 Dec 2022, 15:50:17 UTC
Previous filing: 28 Jul 2021
Next filing: 07 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZVIA	Class B Common Stock	Conversion of derivative security	$0	-500,000	-6.6%	$0.000000	7,055,938	02 Sep 2022	Direct	F1, F2, F3
transaction	ZVIA	Class A Common Stock	Conversion of derivative security	$0	+500,000		$0.000000	500,000	02 Sep 2022	Direct	F1, F3
transaction	ZVIA	Class B Common Stock	Conversion of derivative security	$0	-2,100,000	-30%	$0.000000	4,955,938	02 Dec 2022	Direct	F1, F2, F4
transaction	ZVIA	Class A Common Stock	Conversion of derivative security	$0	+2,100,000	+420%	$0.000000	2,600,000	02 Dec 2022	Direct	F1, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZVIA	Class B Units	Conversion of derivative security	$0	-500,000	-6.6%	$0.000000	7,055,938	02 Sep 2022	Class A Common Stock	500,000		Direct	F2, F3
transaction	ZVIA	Class B Units	Conversion of derivative security	$0	-2,100,000	-30%	$0.000000	4,955,938	02 Dec 2022	Class A Common Stock	2,100,000		Direct	F2, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 4 is filed jointly by White Pine, Inc. ("White Pine") and Laird Norton Company LLC ("LNC"). The securities are directly owned by White Pine. White Pine is a wholly owned subsidiary of LNC, and accordingly LNC may be deemed to beneficially own the securities owned directly by White Pine.
F2	In connection with the Company's IPO, the Company issued shares of its Class B Common Stock on a one-for-one basis to all holders of Class B Units in Zevia LLC. The Class B Units of Zevia LLC are exchangeable, at the holder's option, on a one-for-one basis into shares of Class A Common Stock of the Issuer. Upon exchange of a Class B Unit, the corresponding share of Class B Common Stock will be automatically cancelled.
F3	On September 2, 2022, White Pine converted 500,000 Class B Units to shares of Class A Common Stock and a corresponding number of shares of Class B Common Stock held by White Pine were cancelled.
F4	On December 2, 2022, White Pine converted 2,100,000 Class B Units to shares of Class A Common Stock and a corresponding number of shares of Class B Common Stock held by White Pine were cancelled.