White Pine LLC - Sep 2, 2022 Form 4 Insider Report for Zevia PBC (ZVIA)

Role
10%+ Owner
Signature
/s/ Joseph Phelps, attorney-in-fact
Stock symbol
ZVIA
Transactions as of
Sep 2, 2022
Transactions value $
$0
Form type
4
Date filed
12/6/2022, 03:50 PM
Previous filing
Jul 28, 2021
Next filing
Feb 7, 2023

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 -500K -6.62% $0.00 7.06M Sep 2, 2022 Direct F1, F2, F3
transaction ZVIA Class A Common Stock Conversion of derivative security $0 +500K $0.00 500K Sep 2, 2022 Direct F1, F3
transaction ZVIA Class B Common Stock Conversion of derivative security $0 -2.1M -29.76% $0.00 4.96M Dec 2, 2022 Direct F1, F2, F4
transaction ZVIA Class A Common Stock Conversion of derivative security $0 +2.1M +420% $0.00 2.6M Dec 2, 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 -500K -6.62% $0.00 7.06M Sep 2, 2022 Class A Common Stock 500K Direct F2, F3
transaction ZVIA Class B Units Conversion of derivative security $0 -2.1M -29.76% $0.00 4.96M Dec 2, 2022 Class A Common Stock 2.1M 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.