Mark J. Nelson - 13 Mar 2024 Form 4 Insider Report for Local Bounti Corporation/DE (LOCL)

Role
Director
Signature
/s/ Kathleen Valiasek, as Attorney-in-Fact for Mark J. Nelson
Issuer symbol
LOCL
Transactions as of
13 Mar 2024
Net transactions value
-$1,159
Form type
4
Filing time
15 Mar 2024, 17:53:52 UTC
Previous filing
03 Jan 2024
Next filing
17 Apr 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOCL Common Stock Sale $1,159 -447 -1.4% $2.59 31,048 13 Mar 2024 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on November 14, 2023.
F2 This transaction was executed in multiple trades at prices ranging from $2.54 to $2.60. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide, upon request, to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.