Moujan Kazerani - 27 Jan 2022 Form 4 Insider Report for System1, Inc. (SST)

Role: Director
Signature: By: /s/ Daniel Weinrot, Attorney-in-Fact for Moujan Kazerani
Issuer symbol: SST
Transactions as of: 27 Jan 2022
Net transactions value: $0
Form type: 4
Filing time: 01 Feb 2022, 12:39:56 UTC
Next filing: 07 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Award		+75,612			75,612	27 Jan 2022	See Footnote	F1, F2

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

Explanation of Responses:

Id	Content
F1	Received in connection with the business combination (the "Business Combination") among System1, Inc., (f/k/a Trebia Acquisition Corp., (the "Company"), S1 Holdco, LLC ("S1 Holdco"), Orchid Merger Sub I, Inc. ("Merger Sub I"), Orchid Merger Sub II, LLC ("Merger Sub II" and, together with Merger Sub I, the "Merger Subs"), System1 SS Protect Holdings, Inc. ("Protected") and the other parties signatory to that certain business combination agreement, dated as of June 28, 2021 (as amended on November 30, 2021, January 10, 2022 and January 25, 2022).
F2	Reflects shares held by Carbon Investments, LLC. Moujan Kazerani is a member and officer of Carbon Investments, LLC. Ms. Kazerani disclaims beneficial ownership of the shares except to the extent of her pecuniary interest therein.

Content

Received in connection with the business combination (the "Business Combination") among System1, Inc., (f/k/a Trebia Acquisition Corp., (the "Company"), S1 Holdco, LLC ("S1 Holdco"), Orchid Merger Sub I, Inc. ("Merger Sub I"), Orchid Merger Sub II, LLC ("Merger Sub II" and, together with Merger Sub I, the "Merger Subs"), System1 SS Protect Holdings, Inc. ("Protected") and the other parties signatory to that certain business combination agreement, dated as of June 28, 2021 (as amended on November 30, 2021, January 10, 2022 and January 25, 2022).

Reflects shares held by Carbon Investments, LLC. Moujan Kazerani is a member and officer of Carbon Investments, LLC. Ms. Kazerani disclaims beneficial ownership of the shares except to the extent of her pecuniary interest therein.