TS Innovation Acquisitions Sponsor, L.L.C. - Jun 4, 2021 Form 4 Insider Report for TS Innovation Acquisitions Corp. (LTCH)

Role
Former 10% Owner
Signature
TS Innovation Acquisitions Sponsor, L.L.C. By: Tishman Speyer Properties, L.P., its sole manager, By: /s/ Michael B. Benner, General Counsel, Vice President & Secretary
Stock symbol
LTCH
Transactions as of
Jun 4, 2021
Transactions value $
$8,000,001
Form type
4
Date filed
6/7/2021, 06:38 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTCH Common Stock Options Exercise +7.38M 7.38M Jun 4, 2021 Direct F1, F2

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 LTCH Common Stock Options Exercise -7.38M -100% 0 Jun 4, 2021 Common Stock Direct F2
transaction LTCH Private Placement Warrants Award $8M +5.33M $1.50 5.33M Jun 4, 2021 Common Stock 5.33M $11.50 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

TS Innovation Acquisitions Sponsor, L.L.C. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 10% of such shares are subject to vesting if the VWAP of the Issuer's shares of Common Stock equals or exceeds $14.00 for any 20 trading days within a 30 trading day period on or prior to the fifth anniversary of the business combination (the "Business Combination") of TS Innovation Acquisitions Corp. and Latch, Inc. In the event the Issuer enters into a binding agreement on or before such date related to certain sale transactions involving the shares of Common Stock or all or substantially all of its assets, all unvested shares shall vest on the day prior to the closing of such sale if the per share price implied in such sale meets or exceeds $14.00.
F2 On June 4, 2021, the Issuer consummated the Business Combination. The Issuer's shares of Class B common stock, par value $0.0001 per share, were automatically converted into shares of Class A common stock, par value $0.0001 per share, of the Issuer at the time of the closing of the Business Combination, on a one-for-one basis.
F3 The private placement warrants were purchased by TS Innovation Acquisitions Sponsor, L.L.C. on November 9, 2020. Each private placement warrant is exercisable to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment, becomes exercisable 12 months after the closing of the TS Innovation Acquisitions Corp.'s initial public offering on November 13, 2020, and expires five years after the completion of the Business Combination or earlier upon redemption or liquidation.