Beard Energy Transition Acquisition Sponsor LLC - Nov 23, 2021 Form 3 Insider Report for Beard Energy Transition Acquisition Corp. (BRD)

Role
10%+ Owner
Signature
/s/ Sarah James, As Attorney-in-Fact
Stock symbol
BRD
Transactions as of
Nov 23, 2021
Transactions value $
$0
Form type
3
Date filed
11/23/2021, 08:12 PM

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 BRD Class B Units of Beard Energy Transition Acquisition Holding Nov 23, 2021 Class A Common Stock 5.75M Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 For each Class B Unit of Beard Energy Transition Acquisition Holdings LLC ("Opco"), the Reporting Person owns a corresponding share of the Issuer's Class B common stock. In connection with the Issuer's initial business combination, the Class B Units of Opco will convert into Class A Units of Opco on a one-for-one basis, subject to adjustment. The Class A Units of Opco (together with the corresponding shares of the Issuer's Class B common stock) will be exchangeable into shares of the Issuer's Class A common stock after the time of the Issuer's initial business combination on a one-for-one basis and have no expiration date.
F2 Includes 750,000 Class B Units of Opco (and corresponding shares of Class B Common Stock) that are subject to forfeiture if the underwriter in the Issuer's initial public offering of units does not exercise its over-allotment option.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney