Sierra Lake Sponsor LLC - 17 Sep 2021 Form 4 Insider Report for Sierra Lake Acquisition Corp.

Role
10%+ Owner
Signature
/s/ Charles Alutto Managing Member
Issuer symbol
N/A
Transactions as of
17 Sep 2021
Net transactions value
-$5,625
Form type
4
Filing time
21 Sep 2021, 16:07:40 UTC
Previous filing
14 Sep 2021
Next filing
02 Nov 2021
SEC
View on sec.gov

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 SIER Class B common stock, par value $0.0001 per share Sale $5,625 -1,875,000 -22% $0.003000* 6,750,000 17 Sep 2021 Class A common stock, par value $0.0001 per share 1,875,000 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the Issuer's registration statement on Form S-1 (File No. 333-253479) under the heading "Description of Securities - Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the Issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein.
F2 Includes 1,125,000 shares of Class B Common Stock that are subject to forfeiture if the underwriter in the Issuer's initial public offering does not exercise its over-allotment option in full.