Brian Bair - 01 Sep 2021 Form 4/A - Amendment Insider Report for Offerpad Solutions Inc. (OPAD)

Role: Chief Executive Officer, Director
Signature: /s/ Adam Martinez, as Attorney-in-Fact for Brian Bair
Issuer symbol: OPAD
Transactions as of: 01 Sep 2021
Net transactions value: $0
Form type: 4/A - Amendment
Filing time: 09 Jun 2023, 16:35:51 UTC
Date Of Original Report: 03 Sep 2021
Next filing: 03 Mar 2022
SEC: View on sec.gov

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	OPAD	Class B Common Stock	Award		+12,168,007			12,168,007	01 Sep 2021	Class A Common Stock	12,168,007		Direct	F1, F2
transaction	OPAD	Class B Common Stock	Award		+2,648,229			2,648,229	01 Sep 2021	Class A Common Stock	2,648,229		By The BBAB 2021 Irrevocable Trust	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each share of Class B common stock represents a contingent right to receive one share of the Issuer's Class A common stock.
F2	Each share of Class B common stock is convertible at any time at the option of the holder into one share of the Issuer's Class A common stock or upon the earliest to occur of (a) the date that is nine months following the date on which Mr. Bair (x) is no longer providing services, whether upon death, resignation, removal or otherwise, to Offerpad Solutions as a member of the senior leadership team, officer or director and (y) has not provided any such services for the duration of such nine-month period; and (b) the date as of which the Mr. Bair or his permitted transferees have transferred, in the aggregate, more than seventy-five (75%) of the shares of Class B common stock that were held by Mr. Bair and his permitted transferees as of September 1, 2021.

Content

Each share of Class B common stock represents a contingent right to receive one share of the Issuer's Class A common stock.

Each share of Class B common stock is convertible at any time at the option of the holder into one share of the Issuer's Class A common stock or upon the earliest to occur of (a) the date that is nine months following the date on which Mr. Bair (x) is no longer providing services, whether upon death, resignation, removal or otherwise, to Offerpad Solutions as a member of the senior leadership team, officer or director and (y) has not provided any such services for the duration of such nine-month period; and (b) the date as of which the Mr. Bair or his permitted transferees have transferred, in the aggregate, more than seventy-five (75%) of the shares of Class B common stock that were held by Mr. Bair and his permitted transferees as of September 1, 2021.

Remarks:

This Form 4/A is being filed to correct administrative errors in the original Form 4 filed on September 3, 2021 (the "Original Form 4"). The Original Form 4 inadvertently misallocated the numberof shares of Class B common stock in the reported transactions and how such shares were held following the reported transactons. The aggregate number of shares of Class B common stock reported in the Original Form 4 remains unchanged. The Original Form 4 also inadvertently reported transactions in shares of Class A common stock by the reporting person. In fact, there were no transactions in shares of Class A common stock, and the reporting person held 0 shares of Class A commons stock following the reported transactions.