Anthony Previte - Jul 8, 2022 Form 4 Insider Report for Terran Orbital Corp (LLAP)

Role
Other*
Signature
/s/ Stacy N. Previte, as Personal Representative of Reporting Person
Stock symbol
LLAP
Transactions as of
Jul 8, 2022
Transactions value $
$0
Form type
4
Date filed
7/22/2022, 05:23 PM
Previous filing
Apr 7, 2022

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 -10.4M -100% $0.00* 0 Jul 8, 2022 Direct F1, F2
transaction LLAP Common Stock, par value $0.0001 per share Gift $0 +10.4M $0.00* 0 Jul 8, 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 -1.93M -100% $0.00* 0 Jul 8, 2022 Common Stock 1.93M Direct F3, F4
transaction LLAP Restricted Stock Units Gift $0 +1.93M $0.00* 0 Jul 8, 2022 Common Stock 1.93M By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F4
transaction LLAP Restricted Stock Units Gift $0 -1.23M -100% $0.00* 0 Jul 8, 2022 Common Stock 1.23M Direct F1, F3, F5
transaction LLAP Restricted Stock Units Gift $0 +1.23M $0.00* 0 Jul 8, 2022 Common Stock 1.23M By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F5
transaction LLAP Restricted Stock Units Gift $0 -1.1M -100% $0.00* 0 Jul 8, 2022 Common Stock 1.1M Direct F1, F3, F6
transaction LLAP Restricted Stock Units Gift $0 +1.1M $0.00* 0 Jul 8, 2022 Common Stock 1.1M By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F3, F6
transaction LLAP $11 Retention Restricted Stock Units Gift $0 -176K -100% $0.00* 0 Jul 8, 2022 Common Stock 176K Direct F1, F7
transaction LLAP $11 Retention Restricted Stock Units Gift $0 +176K $0.00* 0 Jul 8, 2022 Common Stock 176K By Anthony L. Previte Declaration of Trust dated June 10, 2022 F1, F7
transaction LLAP $13 Retention Restricted Stock Units Gift $0 -149K -100% $0.00* 0 Jul 8, 2022 Common Stock 149K Direct F1, F8
transaction LLAP $13 Retention Restricted Stock Units Gift $0 +149K $0.00* 0 Jul 8, 2022 Common Stock 149K 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.