Michael Blend - Apr 20, 2022 Form 4 Insider Report for System1, Inc. (SST)

Role: CEO & Chairman, Director
Signature: /s/ Daniel Weinrot, as Attorney-in-Fact for Michael Blend
Stock symbol: SST
Transactions as of: Apr 20, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/22/2022, 09:34 PM
Previous filing: Feb 1, 2022
Next filing: Dec 18, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Other	$0	-3.09M	-100%	$0.00^*	0	Apr 20, 2022	By LLC	F1
holding	SST	Class A Common Stock						725K	Apr 20, 2022	Direct

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

Explanation of Responses:

Id	Content
F1	On April 20, 2022, Lone Investment Holdings, LLC ("LIH") distributed 3,086,790 shares to its members on a pro rata basis for no consideration. Mr. Blend is the manager of LIH, and may be deemed to have voting and dispositive power over the shares held by LIH. Mr. Blend disclaims beneficial ownership in the shares held by LIH except to the extent of his pecuniary interest therein. These transactions did not involve any sales into the open market.

Content

On April 20, 2022, Lone Investment Holdings, LLC ("LIH") distributed 3,086,790 shares to its members on a pro rata basis for no consideration. Mr. Blend is the manager of LIH, and may be deemed to have voting and dispositive power over the shares held by LIH. Mr. Blend disclaims beneficial ownership in the shares held by LIH except to the extent of his pecuniary interest therein. These transactions did not involve any sales into the open market.