Jeffrey W. Ubben - 01 Mar 2023 Form 4 Insider Report for Enviva Inc.

Role
Director
Signature
/s/ Jeffrey W. Ubben
Issuer symbol
N/A
Transactions as of
01 Mar 2023
Net transactions value
+$69,999,979
Form type
4
Filing time
02 Mar 2023, 16:21:51 UTC
Previous filing
21 Feb 2023
Next filing
27 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EVA Series A Preferred Stock, par value $0.001 per share Award $69,999,979 +1,856,271 $37.71 1,856,271 01 Mar 2023 See footnotes F1, F2, F3
holding EVA Common Stock 5,742,439 01 Mar 2023 See footnotes F2, F3
holding EVA Common Stock 8,018 01 Mar 2023 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As disclosed on Amendment No. 4 to Schedule 13D filed by In-Cap (as defined below) on March 2, 2023, upon stockholder approval of the conversion, each share of Series A Preferred Stock, par value $0.001 per share, will automatically convert into one share of common stock of the Issuer, par value $0.001 per share ("Common Stock").
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 securities reported herein are held by certain funds (the "In-Cap Funds") to which Inclusive Capital Partners, L.P. ("In-Cap") acts as investment manager. The Reporting Person indirectly controls In-Cap.
F4 The Reporting Person is deemed to hold the shares of Common Stock for the benefit of the In-Cap Funds managed by 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.

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.