Simplot Co J.R. - Jan 8, 2024 Form 4 Insider Report for SemiLEDs Corp (LEDS)

Role: 10%+ Owner
Signature: /s/ Scott R. Simplot, Chairman
Stock symbol: LEDS
Transactions as of: Jan 8, 2024
Transactions value $: $399,999
Form type: 4
Date filed: 1/10/2024, 05:02 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LEDS	Common Stock	Conversion of derivative security	$1.38M	+1.05M	+96.34%	$1.31	2.14M	Jan 8, 2024	See Footnote	F1, F2
transaction	LEDS	Common Stock	Other	$400K	+305K	+14.27%	$1.31	2.45M	Jan 8, 2024	See Footnote	F3, F4

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	LEDS	Convertible Unsecured Promissory Note	Conversion of derivative security	-$1.38M				0	Jan 8, 2024	Common Stock	1.05M	$1.31	See Footnote	F1, F2, F5

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

Explanation of Responses:

Id	Content
F1	On February 20, 2020, J.R. Simplot Company, a Nevada corporation (the "Reporting Person"), assigned a Convertible Unsecured Promissory Note initially issued to the Reporting Person by the Issuer in the original principal amount of $1,500,00 (the "Note") for no consideration to Simplot Taiwan Inc., an Idaho corporation ("ST"). The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), ST converted $1,375,529 of the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.
F2	Consists of shares of Common Stock owned of record by ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.
F3	On the Effective Date, ST received 305,343 shares of Common Stock of the Issuer as a payment of interest pursuant to a Loan Agreement between the Issuer and the Reporting Person dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023 and January 7, 2024 (the "Loan Agreement"), and assigned by the Reporting Person to ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.
F4	Consists of the number of shares issued to ST on the Effective Date representing the payment of interest under the Loan Agreement described above.
F5	The Note has no expiration date. As a result of the transaction reported herein, all amounts due and payable under the Note have been satisfied in full.