Simplot Taiwan Inc. - Jan 8, 2024 Form 4 Insider Report for SemiLEDs Corp (LEDS)

Role: 10%+ Owner
Signature: /s/ Scott R. Simplot, Director
Stock symbol: LEDS
Transactions as of: Jan 8, 2024
Transactions value $: $399,999
Form type: 4
Date filed: 1/10/2024, 05:03 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	Direct	F1
transaction	LEDS	Common Stock	Other	$400K	+305K	+14.27%	$1.31	2.45M	Jan 8, 2024	Direct	F2

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	Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	These shares were issued pursuant to the conversion of a Convertible Unsecured Promissory Note assigned to Simplot Taiwan Inc., an Idaho corporation (the "Reporting Person"), on February 20, 2020 by its sole owner, J.R. Simplot Company, a Nevada corporation ("JRS"), in the original principal amount of $1,500,00 (the "Note") for no consideration. 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"), the Reporting Person converted an aggregate amount of $1,375,529 under 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	On the Effective Date, the Reporting Person received 305,343 shares of Common Stock of the Issuer as a payment of interest pursuant to a Loan Agreement between the Issuer and JRS dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023 and January 7, 2024, and assigned by JRS to the Reporting Person.
F3	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.