Sierra Lake Sponsor LLC - Oct 29, 2021 Form 4 Insider Report for Sierra Lake Acquisition Corp. (SIER)

Role: 10%+ Owner
Signature: /s/ Charles Alutto Managing Member of Sierra Lake Sponsor LLC
Stock symbol: SIER
Transactions as of: Oct 29, 2021
Transactions value $: $0
Form type: 4
Date filed: 11/2/2021, 03:36 PM
Previous filing: Sep 21, 2021

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	Disposed to Issuer	$0	-1.13M	-13.04%	$0.00	7.5M	Oct 29, 2021	Class A common stock	1.13M		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 and have no expiration date.
F2	As contemplated in connection with the initial public offering of the Issuer, 1,125,000 shares of Class B common stock of the Issuer were forfeited by Sierra Lake Sponsor LLC (the "Sponsor") to the Issuer for no consideration and cancelled because the underwriters of the Issuer's initial public offering did not exercise their over-allotment option as described in the Issuer's registration statement.

Content

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 and have no expiration date.

As contemplated in connection with the initial public offering of the Issuer, 1,125,000 shares of Class B common stock of the Issuer were forfeited by Sierra Lake Sponsor LLC (the "Sponsor") to the Issuer for no consideration and cancelled because the underwriters of the Issuer's initial public offering did not exercise their over-allotment option as described in the Issuer's registration statement.