Inclusive Capital Partners, L.P. - Jun 15, 2023 Form 3 Insider Report for Enviva Inc. (EVA)

Role
Other*, 10%+ Owner
Signature
Inclusive Capital Partners, L.P. /s/ Anne Sullivan, Chief Operating Officer
Stock symbol
EVA
Transactions as of
Jun 15, 2023
Transactions value $
$0
Form type
3
Date filed
6/20/2023, 04:16 PM
Previous filing
May 19, 2022
Next filing
Aug 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding EVA Common Stock 7.6M Jun 15, 2023 See footnotes F1, F6
holding EVA Common Stock 9.54K Jun 15, 2023 See footnotes F2, F6
holding EVA Common Stock 5.37K Jun 15, 2023 See footnotes F3, F6

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
holding EVA Restricted Stock Units Jun 15, 2023 Common Stock 3.46K $0.00 See footnotes F4, F6
holding EVA Restricted Stock Units Jun 15, 2023 Common Stock 3.46K $0.00 See footnotes F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The securities reported herein are held by certain funds (the "In-Cap Funds") managed by Inclusive Capital Partners, L.P., a Delaware limited partnership, ("In-Cap" or the "Reporting Person") to which In-Cap acts as investment manager. Mr. Jeffrey W. Ubben ("Mr. Ubben") indirectly controls In-Cap.
F2 Represents shares of Common Stock held by Mr. Ubben, which he is deemed to hold for the benefit of the In-Cap Funds 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.
F3 Represents shares of Common Stock held by Ms. Eva Zlotnicka, a Founder and Managing Partner at In-Cap, ("Ms. Zlotnicka"), which she is deemed to hold for the benefit of the In-Cap Funds 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 Represents restricted stock units awarded to Mr. Ubben, which he is deemed to hold for the benefit of the In-Cap Funds and indirectly for the benefit of In-Cap, and may, after vesting, if applicable, transfer the restricted stock units directly to the In-Cap Funds. 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 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.
F5 Represents restricted stock units awarded to Ms. Zlotnicka, which she is deemed to hold for the benefit of the In-Cap Funds and indirectly for the benefit of In-Cap, and may, after vesting, if applicable, transfer the restricted stock units directly to the In-Cap Funds. 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 Ms. Zlotnicka 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.
F6 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 its pecuniary interest therein.

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. Ms. Zlotnicka also serves on the board of directors of the Issuer.