Crestview Partners III GP, L.P. - Sep 17, 2021 Form 4 Insider Report for U.S. WELL SERVICES, INC. (USWS)

Role
Director, 10%+ Owner
Signature
By: Crestview Partners III GP, L.P., By: Crestview, L.L.C., its general partner, By: /s/ Ross A. Oliver, General Counsel
Stock symbol
USWS
Transactions as of
Sep 17, 2021
Transactions value $
$0
Form type
4
Date filed
9/21/2021, 06:05 PM
Previous filing
Jul 2, 2021
Next filing
Sep 30, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USWS Class A common stock Options Exercise +48.9M +240.06% 69.3M Sep 17, 2021 See footnote F1, F3

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 USWS Series B Redeemable Convertible Preferred Stock Options Exercise -11.5K -100% 0 Sep 17, 2021 Class A Common Stock See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the conversion of 11,500 shares of Series B Redeemable Convertible Preferred Stock of the Issuer, par value $0.0001 per share ("Series B Preferred Shares") held by Crestview III USWS, L.P. and Crestview III USWS TE, LLC (the "Crestview Entities") into shares of Class A Common Stock of the Issuer, par value $0.0001 per share ("Class A Shares") at a conversion price of $0.308 per share in accordance with the Series B Certificate of Designations.
F2 The Series B Preferred Shares have no expiration date.
F3 Crestview Partners III GP, L.P. may be deemed to have beneficial ownership of the securities held by the Crestview Entities. Crestview Partners III GP, L.P. exercises voting and dispositive power over the securities held by the Crestview Entities. Decisions by Crestview Partners III GP, L.P. to vote or dispose of such securities require the approval of a majority of the members of its investment committee and the chairman of the investment committee. Adam J. Klein is a member of the Issuer's board of directors. Mr. Klein is a Partner of Crestview, L.L.C. (which is the general partner of Crestview Partners III GP, L.P.) and Crestview Advisors, L.L.C. (which provides investment advisory and management services to the Crestview Entities and certain affiliates). Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest therein.

Remarks:

Exhibit 99--Joint Filer Information