Black Mountain Sponsor LLC - 10 Apr 2023 Form 4 Insider Report for Black Mountain Acquisition Corp.

Role: 10%+ Owner
Signature: /s/ Rhett Bennett, Chief Executive Officer and Sole Manager
Issuer symbol: N/A
Transactions as of: 10 Apr 2023
Net transactions value: $0
Form type: 4
Filing time: 10 Apr 2023, 18:28:39 UTC
Previous filing: 13 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BMAC	Class A Common Stock	Conversion of derivative security		+6,810,000			6,810,000	10 Apr 2023	Direct	F1

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	BMAC	Class B Common Stock	Conversion of derivative security		-6,810,000	-100%		0	10 Apr 2023	Class A Common Stock	6,810,000		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	In accordance with the amended and restated certificate of incorporation of Black Mountain Acquisition Corp. ("BMAC"), the Reporting Person elected to convert its shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis.
F2	The total shares reported includes 1,150,000 shares of Class B Common Stock issued to the Reporting Person as a result of a stock dividend of the shares of Class B Common Stock by BMAC in connection with BMAC's initial public offering which, as a result of a clerical error, were not previously included on the Reporting Person's Form 3 filed on October 13, 2021.
F3	The shares of Class B Common Stock were (i) convertible into shares of Class A Common Stock at the Reporting Person's election on a one-for-one basis and (ii) automatically convertible into shares of Class A Common Stock at the time of the closing of BMAC's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights (which rights were waived by the Reporting Person in connection with BMAC's proposed business combination), and had no expiration date.