ANTHONY PREVITE - 08 Jul 2022 Form 4 Insider Report for Terran Orbital Corp

Role
Other*
Signature
/s/ Stacy N. Previte, as Personal Representative of Reporting Person
Issuer symbol
N/A
Transactions as of
08 Jul 2022
Net transactions value
$0
Form type
4
Filing time
22 Jul 2022, 17:23:59 UTC
Previous filing
07 Apr 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LLAP Common Stock, par value $0.0001 per share Gift $0 -10,372,117 -100% $0.000000* 0 08 Jul 2022 Direct F1, F2
transaction LLAP Common Stock, par value $0.0001 per share Gift $0 +10,372,117 $0.000000* 0 08 Jul 2022 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F2

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 LLAP Restricted Stock Units Gift $0 -1,930,954 -100% $0.000000* 0 08 Jul 2022 Common Stock 1,930,954 Direct F3, F4
transaction LLAP Restricted Stock Units Gift $0 +1,930,954 $0.000000* 0 08 Jul 2022 Common Stock 1,930,954 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F4
transaction LLAP Restricted Stock Units Gift $0 -1,231,204 -100% $0.000000* 0 08 Jul 2022 Common Stock 1,231,204 Direct F1, F3, F5
transaction LLAP Restricted Stock Units Gift $0 +1,231,204 $0.000000* 0 08 Jul 2022 Common Stock 1,231,204 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F5
transaction LLAP Restricted Stock Units Gift $0 -1,103,402 -100% $0.000000* 0 08 Jul 2022 Common Stock 1,103,402 Direct F1, F3, F6
transaction LLAP Restricted Stock Units Gift $0 +1,103,402 $0.000000* 0 08 Jul 2022 Common Stock 1,103,402 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F6
transaction LLAP $11 Retention Restricted Stock Units Gift $0 -175,606 -100% $0.000000* 0 08 Jul 2022 Common Stock 175,606 Direct F1, F7
transaction LLAP $11 Retention Restricted Stock Units Gift $0 +175,606 $0.000000* 0 08 Jul 2022 Common Stock 175,606 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F7
transaction LLAP $13 Retention Restricted Stock Units Gift $0 -148,600 -100% $0.000000* 0 08 Jul 2022 Common Stock 148,600 Direct F1, F8
transaction LLAP $13 Retention Restricted Stock Units Gift $0 +148,600 $0.000000* 0 08 Jul 2022 Common Stock 148,600 By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 The reporting person transferred all of his common stock and restricted stock units to his family trust on July 8, 2022. The reporting person served as the trustee of the trust at the time of the transfers.
F2 35,495 of the shares were previously held in Terran Orbital Management Investors LLC, but those shares of common stock were distributed in kind to Mr. Previte without consideration prior to contributing them to the trust.
F3 Each restricted stock unit represents a contingent right to receive one share of LLAP common stock subject to a time-based vesting condition described herein and a Liquidity Event vesting condition. The Liquidity Event vesting condition was satisfied on March 25, 2022 upon the closing of LLAP's business combination.
F4 The restricted stock units vest in four equal annual installments on the anniversary of the vesting start date. Vesting start date is March 15, 2021.
F5 The restricted stock units vest in four equal annual installments on the anniversary of the vesting start date. Vesting start date is February 24, 2021.
F6 The restricted stock units vest in two equal annual installments on the anniversary of the vesting start date. Vesting start date is February 24, 2021.
F7 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying certain conditions, including the market price of LLAP common stock being at or greater than $11/share in 20 out of 30 trading days during a five year period starting March 25, 2022.
F8 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying certain conditions, including the market price of LLAP common stock being at or greater than $13/share in 20 out of 30 trading days during a five year period starting March 25, 2022.

Remarks:

At the time of the transfers by the reporting person to his family trust he was the Co-Founder, Chief Strategy Officer and Executive Vice President of LLAP and a member of the board of directors of LLAP. Following the date of the transfers, the reporting person passed away.