Michael J. Ellis - Dec 9, 2021 Form 4 Insider Report for Altus Power, Inc. (AMPS)

Role: Director
Signature: /s/ Cindy Kee, as Attorney-in-Fact
Stock symbol: AMPS
Transactions as of: Dec 9, 2021
Transactions value $: $202,587
Form type: 4
Date filed: 12/13/2021, 04:34 PM
Previous filing: Dec 10, 2021
Next filing: Dec 13, 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	AMPS	Class B Common Stock	Disposed to Issuer		-6.04K	-30%		14.1K	Dec 9, 2021	Class A Common Stock	146K		Direct	F1, F2, F3
transaction	AMPS	Warrants (Right to Buy)	Other	$203K	+18.4K		$11.00	18.4K	Dec 9, 2021	Class A Common Stock	18.4K		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael J. Ellis is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	On December 9, 2021, CBRE Acquisition Holdings, Inc. completed a business combination with Altus Power, Inc. (the "Business Combination"), and CBRE Acquisition Holdings, Inc. changed its name to Altus Power, Inc. (the "Issuer"). Pursuant to the terms of the Class B common stock of the Issuer (the "Class B Common Stock"), of which an aggregate of 1,408,750 shares are currently outstanding, on the last day of each measurement period, which will occur annually over seven fiscal years following the completion of the Business Combination, an aggregate of 201,250 shares of Class B Common Stock will automatically convert, subject to adjustment, into shares of Class A common stock of the Issuer (the "Class A Common Stock"), pursuant to a formula based on the stock price of the Class A Common Stock, into an aggregate minimum of 2,013 shares of Class A Common Stock on each conversion date, up to an aggregate maximum of 14,596,637 shares of Class A Common Stock over such seven year period.
F2	Represents a disposition of Class B Common Stock pursuant to the terms of the Class B Letter Agreement, dated July 12, 2021, pursuant to which CBRE Acquisition Sponsor, LLC and certain other persons, including the Reporting Person, agreed to forfeit a specified number of shares of Class B Common Stock, effective upon the closing of the Business Combination.
F3	The number of shares of Class A Common Stock reported as underlying such shares of Class B Common Stock in the Table above represents the approximate maximum number of shares of Class A Common Stock that may be delivered with respect to shares of Class B Common Stock held by the Reporting Person based on his proportionate ownership of shares of Class B Common Stock.
F4	Each Warrant is initially exercisable for one share of Class A Common Stock at an exercise price of $11.00 per share, subject to certain adjustments. The Warrants become exercisable on January 8, 2022, 30 days after the Issuer completed its Business Combination, and expire five years after completion of the Business Combination or earlier upon redemption or liquidation. The Warrants were acquired by the Reporting Person in connection with the initial public offering of CBRE Acquisition Holdings, Inc.