Farris Wilks - Nov 1, 2022 Form 4 Insider Report for U.S. WELL SERVICES HOLDINGS, LLC (USWS)

Role
10%+ Owner
Signature
/s/ Robert J. Willette, Attorney-in-Fact
Stock symbol
USWS
Transactions as of
Nov 1, 2022
Transactions value $
$0
Form type
4
Date filed
11/9/2022, 01:47 PM
Previous filing
May 19, 2022
Next filing
Apr 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USWS Class A Common Stock, par value $0.0001 per share Options Exercise +2.46M 2.46M Nov 1, 2022 Direct F1
transaction USWS Class A Common Stock, par value $0.0001 per share Disposed to Issuer +2.46M 0 Nov 1, 2022 Direct 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 USWS 16.0% Convertible Senior Secured (Third Lien) PIK Note Options Exercise -2.46M -100% 0 Nov 1, 2022 Class A Common Stock 2.46M Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 Reflects the conversion of 16.0% Convertible Senior Secured (Third Lien) PIK Notes of the Issuer into a number of shares of Class A Common Stock of the Issuer equal to the quotient of (i) the aggregate principal amount, plus accrued and unpaid interest, owing under such note through July 9, 2022 ($17,971,111.95), and (ii) $7.32 pursuant to the Agreement and Plan of Merger by and among the Issuer, ProFrac Holding Corp. and Thunderclap Merger Sub I, Inc., dated as of June 21, 2022 (the "Merger Agreement").
F2 Reflects the conversion pursuant to the Merger Agreement of shares of Class A Common Stock of the Issuer into 0.3366 shares of Class A Common Stock of ProFrac Holding Corp. ("PFHC Shares"). The closing price of PFHC Shares on November 1, 2022, was $22.08 per share.