Pivotal Investment Holdings III LLC - Jul 26, 2021 Form 4 Insider Report for Pivotal Investment Corp III (PICC)

Role: 10%+ Owner
Signature: /s/ Kevin Griffin, managing member of Pivotal Spac Funding III LLC, managing member of Pivotal Investment Holdings III LLC
Stock symbol: PICC
Transactions as of: Jul 26, 2021
Transactions value $: -$240
Form type: 4
Date filed: 7/28/2021, 11:00 AM
Next filing: Jan 3, 2023

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	PICC	Class B Common Stock	Sale	-$240	-60K	-0.91%	$0.00^*	6.54M	Jul 26, 2021	Class A Common Stock	60K		By Pivotal Investment Holdings III LLC	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	The Class B Common Stock will automatically convert into the Issuer's Class A Common Stock at the time of the Issuer's initial business combination on a one-for-one basis. The Class B Common Stock has no expiration date.
F2	The sale price of the shares is equal to the purchase price originally paid by the reporting person for such shares.
F3	These shares are owned directly by Pivotal Investment Holdings III LLC, a ten percent owner of the issuer, and indirectly by its managing members, Ironbound Partners Fund, LLC and Pivotal Spac Funding III LLC. Ironbound Partners Fund, LLC is an affiliate of Jonathan Ledecky, the Issuer's Chairman. Pivotal Spac Funding III LLC is an affiliate of MGG Investment Group, LP, whose Chief Executive Officer is Kevin Griffin, the Chief Executive Officer and a director of the Issuer. Each of Mr. Ledecky, Ironbound Partners Fund, LLC, Pivotal Spac Funding III LLC, MGG Investment Group, LP, and Mr. Griffin disclaim beneficial ownership of the securities held by Pivotal Investment Holdings III LLC, except to the extent of his or its pecuniary interest therein.