Jacoby & Co. Inc. - 19 Jul 2022 Form 4 Insider Report for Greenlane Holdings, Inc. (GNLN)

Role
10%+ Owner
Signature
/s/ Aaron LoCascio
Issuer symbol
GNLN
Transactions as of
19 Jul 2022
Net transactions value
$0
Form type
4
Filing time
21 Jul 2022, 16:02:12 UTC
Previous filing
02 Sep 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNLN Class B Common Stock Other $0 -15,998,046 -100% $0.000000* 0 19 Jul 2022 Direct F1, F2
transaction GNLN Class A Common Stock Conversion of derivative security $0 +15,998,046 $0.000000 15,998,046 19 Jul 2022 Direct F1, F2
transaction GNLN Class A Common Stock Other $0 -15,998,046 -100% $0.000000* 0 19 Jul 2022 Direct F1, 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 GNLN Common Units Conversion of derivative security -15,998,046 -100% 0 19 Jul 2022 Class A Common Stock 15,998,046 Direct 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 Fourth Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operating Company (the "Common Units") are redeemable on a one-for-one basis for shares of Class A common stock of the Issuer, or, at the election of the Issuer, cash equal to a volume weighted average market price of a share of Class A common stock. Upon any redemption of Common Units, one share of Class B common stock is automatically forfeited and cancelled for each Common Unit so redeemed.
F2 On July 19, 2022, the Reporting Person received 15,998,046 shares of Class A common stock in connection with the redemption of 15,998,046 Common Units, which shares of Class A common stock were distributed to the shareholders of the Reporting Person. 15,998,046 shares of Class B common stock were cancelled in connection with the redemption.
F3 The Common Units had no expiration date.