Robert Barker - Mar 26, 2024 Form 4 Insider Report for Concord Acquisition Corp III (GCTS)

Role: Director, Class II Director
Signature: /s/ Edmond Cheng, attorney-in-fact
Stock symbol: GCTS
Transactions as of: Mar 26, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/27/2024, 07:01 PM
Next filing: Jul 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GCTS	Common Stock, par value $0.0001 per share	Award	$0	+13.1K		$0.00	13.1K	Mar 26, 2024	Direct	F1
transaction	GCTS	Common Stock, par value $0.0001 per share	Award	$0	+3.74K		$0.00	3.74K	Mar 26, 2024	Direct	F2

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	GCTS	Stock Option (Right to Buy)	Award	$0	+933		$0.00	933	Mar 26, 2024	Common Stock	933	$0.11	Direct	F3, F4
transaction	GCTS	Stock Option (Right to Buy)	Award	$0	+1.87K		$0.00	1.87K	Mar 26, 2024	Common Stock	1.87K	$0.11	Direct	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the Business Combination Agreement, dated as of November 2, 2023 (the "Business Combination Agreement"), by and among Concord Acquisition Corp III, Gibraltar Merger Sub Inc., and GCT Semiconductor, Inc. ("GCT"), at the Effective Time (as defined in the Business Combination Agreement), each share of GCT common stock was automatically converted for the right to receive common stock of the Issuer in the manner set forth in the Business Combination Agreement.
F2	Represents the Issuer's common stock subject to restricted stock units (RSUs). Pursuant to the Business Combination Agreement, at the Effective Time (as defined in the Business Combination Agreement), each award of restricted stock units relating to a share of GCT common stock granted under GCT's existing equity plans was automatically converted into an award of restricted stock units covering the number of shares of the common stock of the Issuer in the manner set forth in the Business Combination Agreement. The shares subject to RSUs reported herein will vest in equal annual installments over a four (4) year period measured from December 11, 2023.
F3	Pursuant to the Business Combination Agreement, at the Effective Time, each outstanding option to purchase shares of GCT common stock was assumed and converted into an option to purchase shares of common stock of the Issuer with the same terms and conditions as were applicable to such option immediately prior to the Effective Time, subject to the applicable exchange ratio.
F4	The option vests with respect to (i) twenty-five percent (25%) of the shares upon completion of one (1) year of service measured from January 1, 2019 and (ii) the balance of the shares subject to the option in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service over the thirty-six (36) month period measured from January 1, 2020.
F5	The option vests with respect to (i) twenty-five percent (25%) of the shares upon completion of one (1) year of service measured from January 1, 2020 and (ii) the balance of the shares subject to the option in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service over the thirty-six (36) month period measured from January 1, 2021.