Douglas L. Raaberg - Oct 30, 2024 Form 4 Insider Report for Terran Orbital Corp (LLAP)

Role
Director
Signature
/s/ Stephanie McMenamy, attorney-in-fact
Stock symbol
LLAP
Transactions as of
Oct 30, 2024
Transactions value $
$0
Form type
4
Date filed
10/30/2024, 08:55 AM
Previous filing
Jun 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LLAP Common Stock, par value $0.0001 per share Disposed to Issuer -155K -100% 0 Oct 30, 2024 Direct F1

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 LLAP Restricted Stock Units Disposed to Issuer -142K -100% 0 Oct 30, 2024 Common Stock 142K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Douglas L. Raaberg is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On October 30, 2024, the reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of August 15, 2024, by and among Terran Orbital Corporation, a Delaware corporation ("Terran"), Lockheed Martin Corporation, a Maryland corporation ("Parent"), and Tholian Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub merged with and into Terran with Terran as the surviving corporation of the merger (the "Merger"). Upon the effectiveness of the Merger, the reporting person received $0.25 in cash, without interest (the "Merger Consideration"), for each share of common stock, par value $0.0001 per share, of Terran (the "Common Stock").
F2 Upon the effectiveness of the Merger and pursuant to the Merger Agreement, each restricted stock unit with respect to the Common Stock (the "Company RSUs") held by the reporting person automatically became fully vested and was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the total number of shares of Common Stock underlying such Company RSU held by the reporting person multiplied by (ii) the Merger Consideration.