Todd G. Schwartz - Jul 20, 2021 Form 3 Insider Report for OppFi Inc. (OPFI)

Signature
By: /s/ Marv Gurevich, Esq., as attorney-in-fact for Todd Schwartz
Stock symbol
OPFI
Transactions as of
Jul 20, 2021
Transactions value $
$0
Form type
3
Date filed
7/23/2021, 07:20 PM
Next filing
Jul 29, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding OPFI Class V Common Stock 97M Jul 20, 2021 By OppFi Shares, LLC F1, F2, F3

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
holding OPFI Class A Common Units Jul 20, 2021 Class A Common Stock 33.7M By Todd Schwartz Capital Group LP F4, F5, F6, F7
holding OPFI Class A Common Units Jul 20, 2021 Class A Common Stock 2.64M By MCS 2017 Trust fbo Todd Schwarz F4, F5, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Class V common stock, par value $0.0001 per share ("Class V Common Stock"), of OppFi Inc. (the "Issuer") represent voting, non-economic interests in the Issuer. Except as provided in the Issuer's certificate of incorporation, as amended, or as required by applicable law, holders of Class V Common Stock will be entitled to one vote per share of Class V Common Stock on all matters to be voted on by the Issuer's stockholders generally. The shares of Class V Common Stock will be cancelled by the Issuer if the reporting person exercises (or causes Todd Schwartz Capital Group LP or MCS (as defined below in footnote 9) to exercise) Exchange Rights (as defined below in footnote 5).
F2 Includes 25,500,000 shares of Class V Common Stock subject to forfeiture in the event that the Earnout Units (as defined below in footnote 6) are not earned.
F3 The shares of Class V Common Stock are held by OppFi Shares, LLC ("OFS"), which has sole voting power over the shares of Class V Common Stock reported in Table I hereof. OFS is wholly owned by TGS Revocable Trust, whose sole trustee is the reporting person. By virtue of these relationships, the reporting person may be deemed to have voting power over the shares of Class V Common Stock held by OFS.
F4 Class A common units ("Common Units") of Opportunity Financial, LLC ("Opportunity Financial") generally represent economic, non-voting interests in Opportunity Financial. The Issuer is the sole manager of Opportunity Financial and controls Opportunity Financial, except as provided by the Third Amended and Restated Limited Liability Company Agreement of Opportunity Financial (the "LLC Agreement") or applicable law.
F5 (Continued From footnote 4) Pursuant to the LLC Agreement, each Common Unit can be exchanged by the holder from time to time for either one share of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), of the Issuer or, at the election of the Issuer in its capacity as the sole manager of Opportunity Financial, the cash equivalent of the market value of one share of Class A Common Stock, following the expiration of a lock-up period of up to 9-months (the "Exchange Rights"). For each Common Unit so exchanged, one share of Class V Common Stock held by OFS will be canceled by the Issuer.
F6 Includes 8,856,010 Common Units subject to certain restrictions and potential forfeiture pending the achievement of certain earnout targets ("Earnout Units") by July 20, 2024, pursuant to the terms of that certain Business Combination Agreement, dated February 9, 2021, by and among the Issuer, Opportunity Financial, OFS and the representative of the members of Opportunity Financial. Exchange Rights may not be exercised with respect to Earnout Units unless and until such Earnout Units vest.
F7 The reporting person is the general partner of Todd Schwartz Capital Group LP and may be deemed to beneficially own the securities held by Todd Schwartz Capital Group LP. The reporting person disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein.
F8 Includes 693,155 Earnout Units.
F9 These Common Units are held by MCS 2017 Trust fbo Todd Schwarz ("MCS"), of which the reporting person is the sole trustee and sole beneficiary. MCS is a member of Opportunity Financial and the reporting person has the right to cause MCS to exercise for the benefit of the reporting person MCS's Exchange Rights with respect to the Common Units indirectly held by the reporting person.

Remarks:

See Exhibit 24 - Power of Attorney