Roberto Marco Sella - 01 Sep 2021 Form 4 Insider Report for Offerpad Solutions Inc. (OPAD)

Role
Director
Signature
/s/ Benjamin Aronovitch, as Attorney-in-fact for Roberto Sella
Issuer symbol
OPAD
Transactions as of
01 Sep 2021
Net transactions value
$0
Form type
4
Filing time
03 Sep 2021, 18:34:09 UTC
Next filing
11 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OPAD Class A Common Stock Award +378,106 378,106 01 Sep 2021 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares of Class A common stock of the Issuer received on September 1, 2021, pursuant to that certain Agreement and Plan of Merger, dated as of March 17, 2021, by and among the Issuer, Orchids Merger Sub LLC ("Merger Sub") and OfferPad, Inc. ("Old Offerpad"), Merger Sub merged with and into Old Offerpad with Old Offerpad surviving as a wholly owned subsidiary of the Issuer (the "Merger"). Upon consummation of the Merger (the "Effective Time"), each issued and outstanding share of common stock of Old Offerpad was automatically cancelled and converted into approximately 7.533 (the "Exchange Ratio") shares of Class A common stock of the Issuer.

Remarks:

Mr. Sella is the Managing Partner at LL Funds, LLC and is a member of the board of directors of the Issuer. Certain affiliates of LL Funds, LLC have filed a separate Form 3 reporting securities of the Issuer that they may be deemed to beneficially own. Mr. Sella disclaims beneficial ownership of any securities of the Issuer that may be deemed to be beneficially owned by affiliates of LL Funds, LLC.