Rhett Bennett - Apr 10, 2023 Form 4 Insider Report for Black Mountain Acquisition Corp. (BMAC)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Rhett Bennett
Stock symbol: BMAC
Transactions as of: Apr 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/10/2023, 06:28 PM
Previous filing: Dec 27, 2022

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		+6.81M			6.81M	Apr 10, 2023	See Footnote	F1, F4

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		-6.81M	-100%		0	Apr 10, 2023	Class A Common Stock	6.81M		See Footnote	F1, F2, F3, F4

* 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"), Black Mountain Sponsor LLC ("Sponsor") 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 Sponsor 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 Sponsor'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 Sponsor in connection with BMAC's proposed business combination), and had no expiration date.
F4	Sponsor is the record holder of the securities reported herein. Sponsor is a limited liability company, of which the Reporting Person is a member and the sole manager. Because of the relationship between the Reporting Person and Sponsor, the Reporting Person may be deemed to beneficially own the securities held of record by Sponsor and reported herein to the extent of the greater of the Reporting Person's direct or indirect pecuniary interests in the profits or capital accounts of Sponsor. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of the Reporting Person's pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of or has any pecuniary interest in such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.