Brian Bair - Sep 1, 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
Stock symbol
OPAD
Transactions as of
Sep 1, 2021
Transactions value $
$0
Form type
4/A - Amendment
Date filed
6/9/2023, 04:35 PM
Date Of Original Report
Sep 3, 2021
Next filing
Mar 3, 2022

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 +12.2M 12.2M Sep 1, 2021 Class A Common Stock 12.2M Direct F1, F2
transaction OPAD Class B Common Stock Award +2.65M 2.65M Sep 1, 2021 Class A Common Stock 2.65M 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.

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.