HOWARD L. LANCE - 14 Jun 2021 Form 4 Insider Report for Summit Materials, Inc.

Role
Director
Signature
/s/ Christopher B. Gaskill, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
14 Jun 2021
Net transactions value
-$5,798,175
Form type
4
Filing time
16 Jun 2021, 20:38:15 UTC
Next filing
24 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SUM Class A Common Stock Conversion of derivative security +90,000 +2253% 93,994 14 Jun 2021 Direct F1
transaction SUM Class A Common Stock Options Exercise $1,485,000 +82,500 +88% $18.00 176,494 14 Jun 2021 Direct
transaction SUM Class A Common Stock Sale $2,829,750 -82,500 -47% $34.30 93,994 14 Jun 2021 Direct F2
transaction SUM Class A Common Stock Options Exercise $1,485,000 +82,500 +88% $18.00 176,494 15 Jun 2021 Direct
transaction SUM Class A Common Stock Sale $2,848,725 -82,500 -47% $34.53 93,994 15 Jun 2021 Direct F3
transaction SUM Class A Common Stock Sale $3,089,700 -90,000 -96% $34.33 3,994 16 Jun 2021 Direct F4

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 SUM LP Units of Summit Materials Holdings L.P. Conversion of derivative security -90,000 -66% 45,772 14 Jun 2021 Class A Common Stock 90,000 Direct F1
transaction SUM Options (right to buy) Options Exercise $0 -82,500 -33% $0.000000 164,111 14 Jun 2021 Class A Common Stock 82,500 Direct F1, F5
transaction SUM Options (right to buy) Options Exercise $0 -82,500 -50% $0.000000 81,611 15 Jun 2021 Class A Common Stock 82,500 Direct F1, F5
* 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 an exchange agreement, dated as of March 11, 2015, the limited partnership units of Summit Materials Holdings L.P. ("LP Units") reported herein are exchangeable from and after the first anniversary of the closing of the Issuer's initial public offering (subject to the terms of the exchange agreement and vesting requirements, including certain vesting events more fully described in the Issuer's Registration Statement on Form S-1 (File No. 333-201058)) for shares of the issuer's Class A common stock on a one-for-one basis.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $34.03 to $34.47, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. The Reporting Person remains within compliance of the Issuer's equity ownership guidelines.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $34.36 to $34.75, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. The Reporting Person remains within compliance of the Issuer's equity ownership guidelines.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $34.02 to $34.54, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. The Reporting Person remains within compliance of the Issuer's equity ownership guidelines.
F5 These options are fully vested.