CBRE Acquisition Sponsor, LLC - 31 Mar 2024 Form 4 Insider Report for Altus Power, Inc.

Role
Director, 10%+ Owner
Signature
CBRE ACQUISITION SPONSOR, LLC, By: /s/ Emma E. Giamartino, Name: Emma E. Giamartino, Title: Chief Financial Officer
Issuer symbol
N/A
Transactions as of
31 Mar 2024
Net transactions value
$0
Form type
4
Filing time
02 Apr 2024, 19:51:25 UTC
Previous filing
03 Apr 2023
Next filing
18 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMPS Class A Common Stock Options Exercise +1,811 +0.01% 24,557,823 31 Mar 2024 Held through CBRE Acquisition Sponsor, LLC F1, F2, F3

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 AMPS Class B Common Stock Options Exercise $0 -181,125 -20% $0.000000 724,500 31 Mar 2024 Class A Common Stock 1,811 Held through CBRE Acquisition Sponsor, LLC F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the terms of the Class B common stock of the Issuer (the "Class B Common Stock"), of which immediately prior to March 31, 2024 an aggregate of 996,188 shares were outstanding, on the last day of each measurement period, which will occur annually over seven fiscal years following the completion of the business combination of CBRE Acquisition Holdings, Inc. with Altus Power, Inc., which occurred on December 9, 2021, an aggregate of at least 201,250 shares of Class B Common Stock will automatically convert, subject to adjustment, into shares of Class A Common Stock of the Issuer (the "Class A Common Stock"), pursuant to a formula based on the stock price of the Class A Common Stock, into an aggregate minimum of 2,013 shares of Class A Common Stock on each conversion date, up to an aggregate maximum of 14,596,637 shares, subject to adjustment, of Class A Common Stock over such seven year period.
F2 On the last day of the measurement period ending on March 31, 2024 and pursuant to the formula referenced above, an aggregate of 201,250 shares of Class B Common Stock automatically converted into an aggregate of 2,013 shares of Class A Common Stock. Such conversion of Class B Common Stock applies to each holder of Class B Common Stock on a pro rata basis on the basis of the amounts of such Class B Common Stock held by such holder. In connection with the above, 181,125 shares of Class B Common Stock beneficially owned by the Reporting Persons were converted into 1,811 shares of Class A Common Stock.
F3 Represents securities directly held by CBRE Acquisition Sponsor, LLC ("CBRE Sponsor"). The sole member of CBRE Sponsor is CBRE Services, Inc., which is a wholly-owned subsidiary of CBRE Group, Inc., a publicly traded company.