Thomas Welch - Feb 8, 2022 Form 4 Insider Report for META MATERIALS INC. (MMAT)

Role: 10%+ Owner
Signature: /s/ Thomas Welch
Stock symbol: MMAT
Transactions as of: Feb 8, 2022
Transactions value $: $2,505,000
Form type: 4
Date filed: 2/11/2022, 02:47 PM
Previous filing: Mar 7, 2022
Next filing: Mar 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MMAT	Common Stock	Options Exercise	$2.51M	+1.5M	+439.88%	$1.67^*	1.84M	Jan 25, 2022	Direct	F1

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	MMAT	Exchangeable Shares	Options Exercise		-1.5M	-6.68%		20.9M	Jan 25, 2022	Common Stock	1.5M		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On January 25, 2022, the reporting person exchanged 1,500,000 Exchangeable Shares into 1,500,000 shares of common stock at an exchange price of $1.67, the market price of the common stock on the business day preceding the exchange.
F2	Each Exchangeable Share, an exchangeable share of Metamaterial Exchangeco Inc., an Ontario corporation, is the economic equivalent of one share of MMAT common stock. Each Exchangeable Share holds a voting interest in Meta Materials Inc. equivalent to a share of common stock of Meta Materials Inc. and will be settled in shares of MMAT common stock upon certain events or at the election of the holder.

Content

On January 25, 2022, the reporting person exchanged 1,500,000 Exchangeable Shares into 1,500,000 shares of common stock at an exchange price of $1.67, the market price of the common stock on the business day preceding the exchange.

Each Exchangeable Share, an exchangeable share of Metamaterial Exchangeco Inc., an Ontario corporation, is the economic equivalent of one share of MMAT common stock. Each Exchangeable Share holds a voting interest in Meta Materials Inc. equivalent to a share of common stock of Meta Materials Inc. and will be settled in shares of MMAT common stock upon certain events or at the election of the holder.