Jeffrey W. Ubben - Feb 1, 2022 Form 4 Insider Report for Enviva Inc. (EVA)

Role
Director, Other*, 10%+ Owner
Signature
/s/ Jeffrey W. Ubben
Stock symbol
EVA
Transactions as of
Feb 1, 2022
Transactions value $
$0
Form type
4
Date filed
2/3/2022, 05:17 PM
Previous filing
Jan 28, 2022
Next filing
Feb 4, 2022

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 EVA Restricted Stock Units Award $0 +2.08K $0.00 2.08K Feb 1, 2022 Common Stock 2.08K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The filing of this statement shall not be deemed an admission that either Reporting Person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. The Reporting Persons expressly disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.
F2 Restricted stock units awarded to Mr. Jeffrey W. Ubben ("Mr. Ubben"), which he is deemed to hold for the benefit of Inclusive Capital Partners, L.P., a Delaware limited partnership ("In-Cap"), and certain funds (the "In-Cap Funds") to which In-Cap acts as an investment manager. Each restricted stock unit is the economic equivalent of one share of common stock and includes a tandem grant of a dividend equivalent right entitling the holder to receive an amount in cash equal to the value of any cash dividends paid to the holders of the Issuer's common stock during the period in which the restricted stock unit is outstanding. The restricted stock units will vest on the first anniversary of the date of grant as long as Mr. Ubben continues to serve as a member of the board of directors of the Issuer through such date, and may be settled in either cash or shares of common stock.

Remarks:

In-Cap may be deemed to be a director by deputization for purposes of Section 16 under the Securities Exchange Act of 1934, as amended, by virtue of the fact that Mr. Ubben currently serves on the board of directors of the Issuer. Eva Zlotnicka, a Founder and Managing Partner at In-Cap, also serves on the board of directors of the Issuer. Ms. Zlotnicka has separately filed a Form 4 to report a restricted stock unit award which she holds for the benefit of In-Cap and the In-Cap Funds.