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

Role
Title: President, Chief Financial Officer and Secretary
Signature
/s/ Cindy Kee, as Attorney-in-Fact
Stock symbol
AMPS
Transactions as of
Dec 9, 2021
Transactions value $
$405,163
Form type
4
Date filed
12/13/2021, 04:34 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
transaction AMPS Class B Common Stock Disposed to Issuer -30.2K -30% 70.4K Dec 9, 2021 Class A Common Stock 730K Direct F1, F2, F3
transaction AMPS Warrants (Right to Buy) Other $405K +36.8K $11.00 36.8K Dec 9, 2021 Class A Common Stock 36.8K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Cash J. Smith 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.

Remarks:

Title: President, Chief Financial Officer and Secretary