Charles A. Alutto - 17 Sep 2021 Form 4 Insider Report for Sierra Lake Acquisition Corp.

Role
Chief Executive Officer, 10%+ Owner
Signature
/s/ Charles Alutto
Issuer symbol
N/A
Transactions as of
17 Sep 2021
Net transactions value
-$5,625
Form type
4
Filing time
21 Sep 2021, 16:17:40 UTC
Previous filing
14 Sep 2021
Next filing
13 May 2024
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 See footnote F1, F2, F3
* 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 Sierra Lake Sponsor LLC, a Delaware limited liability company (the "Sponsor"), is the record holder of such shares of Class B common stock. Mr. Alutto is the managing member of the Sponsor.
F3 Mr. Alutto has voting and investment discretion with respect to the Class B common stock held of record by the Sponsor and may be deemed to have beneficial ownership of the Class B common stock held directly by the Sponsor. Mr. Alutto disclaims any beneficial ownership of the reported shares of Class B common stock other than to the extent of any pecuniary interest he may have therein, directly or indirectly. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the Reporting Person is the beneficial owner of any securities reported herein.