Jeffrey W. Ubben - Jan 31, 2023 Form 4 Insider Report for Enviva Inc. (EVA)

Role
Director
Signature
/s/ Jeffrey W. Ubben
Stock symbol
EVA
Transactions as of
Jan 31, 2023
Transactions value $
$0
Form type
4
Date filed
2/2/2023, 07:35 PM
Previous filing
Jan 4, 2023
Next filing
Feb 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EVA Common Stock Options Exercise $0 +2.08K +39.61% $0.00 7.34K Feb 1, 2023 Direct F1, F2, F3
holding EVA Common Stock 5.74M Jan 31, 2023 See footnotes F2, 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 EVA Restricted Stock Units Award $0 +3.46K $0.00 3.46K Jan 31, 2023 Common Stock 3.46K $0.00 Direct F2, F3, F5
transaction EVA Restricted Stock Units Options Exercise $0 -2.08K -100% $0.00* 0 Feb 1, 2023 Common Stock 2.08K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 1, 2023, the restricted stock units reported above vested in accordance with the Reporting Person's grant award and were settled through the issuance of an equal number of shares of common stock to the Reporting Person.
F2 The filing of this statement shall not be deemed an admission that the 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 Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
F3 The Reporting Person is deemed to hold the shares of Common Stock for the benefit of certain funds (the "In-Cap Funds") managed by Inclusive Capital Partners, L.P. ("In-Cap") and indirectly for the benefit of In-Cap, and may, after vesting, if applicable, transfer the shares of Common Stock directly to the In-Cap Funds.
F4 The securities reported herein are held by the In-Cap Funds to which In-Cap acts as investment manager. The Reporting Person indirectly controls In-Cap.
F5 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 is outstanding. The restricted stock units will vest on the first anniversary of the date of grant as long as the Reporting Person 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 the Reporting Person 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.