V. Prem Watsa - Nov 13, 2023 Form 4 Insider Report for BLACKBERRY Ltd (BB)

Role
Director, 10%+ Owner
Signature
/s/ V. Prem Watsa
Stock symbol
BB
Transactions as of
Nov 13, 2023
Transactions value $
-$180,000
Form type
4
Date filed
11/15/2023, 07:57 PM
Previous filing
Sep 1, 2023
Next filing
Dec 4, 2023

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 BB 1.75% Unsecured Convertible Debentures Disposed to Issuer -$330K -1 -100% $330,000.00* 0 Nov 13, 2023 Common Shares 55M See Footnote F1, F3
transaction BB 1.75% Extendable Convertible Unsecured Debentures Award $150K +1 $150,000.00* 1 Nov 13, 2023 Common Shares 25M See Footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The 1.75% unsecured convertible debentures (the "Old 1.75% Debentures") were repaid upon maturity by BlackBerry Limited ("BlackBerry"). The Old 1.75% Debentures had a maturity date of November 13, 2023 and were convertible at any time into common shares of BlackBerry at an initial conversion price of $6.00 per common share. None of the Old 1.75% Debentures were converted into common shares of BlackBerry prior to repayment.
F2 The 1.75% extendable convertible unsecured debentures (the "New 1.75% Debentures") have a stated maturity of February 15, 2024, with an option to extend to May 15, 2024 if mutually agreed between the parties, and are not redeemable by BlackBerry prior to maturity. The New 1.75% Debentures are convertible at any time into common shares of BlackBerry at an initial conversion price of $6.00 per common share, subject to adjustments in accordance with the terms of such New 1.75% Debentures.
F3 These securities are held by controlled subsidiaries of Fairfax Financial Holdings Limited. Mr. Watsa is the CEO and controlling person of Fairfax Financial Holdings Limited through the other Reporting Persons. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.