Charles R. Schwab Jr. - 11 Jun 2025 Form 4 Insider Report for Local Bounti Corporation/DE (LOCL)

Role: Director
Signature: /s/ Kathleen Valiasek, as Attorney-in-Fact for Charles R. Schwab, Jr.
Issuer symbol: LOCL
Transactions as of: 11 Jun 2025
Net transactions value: $0
Form type: 4
Filing time: 13 Jun 2025, 21:22:38 UTC
Previous filing: 02 Apr 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SCHWAB CHARLES R JR.	Director	C/O LOCAL BOUNTI CORPORATION, 490 FOLEY LANE, HAMILTON	/s/ Kathleen Valiasek, as Attorney-in-Fact for Charles R. Schwab, Jr.	13 Jun 2025	0001125972

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOCL	Common Stock	Award	$0	+43,750	+62%	$0.000000	114,613	11 Jun 2025	Direct	F1
transaction	LOCL	Common Stock	Conversion of derivative security	$0	+429,137	+374%	$0.000000	543,750	11 Jun 2025	Direct

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	LOCL	Series A Convertible Preferred Stock	Conversion of derivative security	$0	-429,137	-100%	$0.000000	0	11 Jun 2025	Common Stock	429,137		Direct	F2

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

Explanation of Responses:

Id	Content
F1	The RSUs will vest on the earlier of (1) the day before the Issuer's next annual stockholders' meeting or (2) June 11, 2026, subject to the director's continued service.
F2	Pursuant to the terms of the Securities Purchase Agreement dated as of March 31, 2025, by and among the Issuer, the Reporting Party and the other parties thereto, the Issuer submitted to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). The Conversion Proposal was approved at the 2025 annual meeting of stockholders and following such approval of the Conversion Proposal, each share of Preferred Stock automatically converted into one share of Common Stock.

Content

The RSUs will vest on the earlier of (1) the day before the Issuer's next annual stockholders' meeting or (2) June 11, 2026, subject to the director's continued service.

Pursuant to the terms of the Securities Purchase Agreement dated as of March 31, 2025, by and among the Issuer, the Reporting Party and the other parties thereto, the Issuer submitted to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). The Conversion Proposal was approved at the 2025 annual meeting of stockholders and following such approval of the Conversion Proposal, each share of Preferred Stock automatically converted into one share of Common Stock.