Jeffrey C. Piermont - 01 Nov 2021 Form 4 Insider Report for Andover National Corp

Role
COO, President and Secretary, Director
Signature
/s/ Jeffrey C. Piermont
Issuer symbol
N/A
Transactions as of
01 Nov 2021
Net transactions value
-$446,589
Form type
4
Filing time
02 Nov 2021, 16:01:05 UTC
Previous filing
05 Oct 2021
SEC
View on sec.gov

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 Class B Common Stock Sale $446,589 -40,599 -100% $11.00* 0 01 Nov 2021 Class A Common Stock 40,599 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 1, 2021, the Issuer and Mr. Piermont, the Issuer's President and Chief Operating Officer, mutually agreed to Mr. Piermont's resignation as President and Chief Operating Officer and his separation of employment from the Issuer, effective as of December 31, 2021 (the "Separation"). In connection with the Separation, Mr. Piermont sold all of his shares of Class B Common Stock to The Peter A. Cohen Revocable Trust.
F2 Each share of Class B Common Stock may be converted, at the option of the holder, at any time and from time to time, into one (1) share of Class A Common Stock.
F3 The Class B Common Stock may be converted into shares of Class A Common Stock at any time, at the holder's election, and therefore has no expiration date..