Ophir Sternberg - May 23, 2022 Form 4 Insider Report for MSP Recovery, Inc. (LIFW)

Role
Director, 10%+ Owner
Signature
/s/ Ophir Sternberg
Stock symbol
LIFW
Transactions as of
May 23, 2022
Transactions value $
$0
Form type
4
Date filed
5/25/2022, 09:45 PM
Previous filing
Apr 15, 2022
Next filing
Jun 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LIFW Class A Common Stock Options Exercise $0 +260K +5.58% $0.00 4.92M May 23, 2022 Lionheart Equities LLC F2
transaction LIFW Class A Common Stock Other $0 -2.61M -53% $0.00 2.31M May 23, 2022 Lionheart Equities, LLC F2, F3
transaction LIFW Class A Common Stock Options Exercise $0 +185K +33.33% $0.00 740K May 23, 2022 Lionheart Investments, LLC F1, F4
transaction LIFW Class A Common Stock Award $0 +1M $0.00 1M May 23, 2022 Star Mountain Equities, LLC F5
transaction LIFW Class A Common Stock Award $0 +1M $0.00 1M May 23, 2022 2022 OS Irrevocable F6
transaction LIFW Class B Common Stock Other $0 -4.66M -100% $0.00* 0 May 23, 2022 Lionheart Equities, LLC F2, F7
transaction LIFW Class B Common Stock Other $0 -555K -100% $0.00* 0 May 23, 2022 Lionheart Investments, LLC F4, F7

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 LIFW Class A Units Options Exercise $0 -260K -100% $0.00* 0 May 23, 2022 Class A Common Stock 260K $0.00 Lionheart Equities LLC F2, F8
transaction LIFW Class A Units Options Exercise $0 -185K -100% $0.00* 0 May 23, 2022 Class A Common Stock 185K $0.00 Lionheart Investments, LLC F1, F2, F8
transaction LIFW Warrants Award $0 +130K $0.00 130K May 23, 2022 Class A Common Stock 130K $11.50 Lionheart Equities, LLC F2
transaction LIFW Warrants Other $0 -8.75K -6.73% $0.00 121K May 23, 2022 Class A Common Stock 8.75K $0.00 Lionheart Equities, LLC F2, F9
transaction LIFW Warrants Award $0 +92.5K $0.00 92.5K May 23, 2022 Class A Common Stock 92.5K $11.50 Lionheart Investments, LLC F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ophir Sternberg is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These shares were previously inadvertently aggregated into the shares owned by Lionheart Equities, LLC ("Sponsor").
F2 These shares of Class A Common Stock ("Class A Shares") are owned directly by Sponsor, an entity which Mr. Sternberg owns and controls.
F3 These shares were transferred to certain affiliates of Sponsor in connection with the closing of the Issuer's business combination on May 23, 2022 (the " Business Combination").
F4 These Class A shares are owned directly by Lionheart Investments, LLC ("Investments"), an entity which Mr. Sternberg owns and controls.
F5 These Class A shares are owned directly by Star Mountain Equities, LLC, an entity which Mr. Sternberg owns and controls.
F6 These Class A shares are owned directly by 2022 OS Irrevocable Trust, over which Mr. Sternberg has sole investment and dispository power as its trustee.
F7 Reflects the cancellation for no consideration of Class B Common Stock ("Class B Shares") of the Issuer in connection with the conversion of the Class B Shares into Class A Shares. These Class B Shares were converted into Class A Shares, on a one-for-one basis, in connection with the closing of the Business Combination.
F8 Each of these Class A Units were converted into (i) one Class A Share of Issuer and (ii) one-half of one Warrant to purchase a Class A Share of Issuer at an exercise price of $11.50 per share upon the completion of the combination transaction.
F9 The warrants were transferred to certain affiliates of Sponsor in connection with the closing of the Business Combination for no consideration.