Morgan Callagy - 13 Jan 2022 Form 4 Insider Report for Revelstone Capital Acquisition Corp.

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	RCAC	Class B Common Stock	Other	$0	-57,130	-9.4%	$0.000000	550,361	13 Jan 2022	Class A Common Stock	57,130		Direct	F1
transaction	RCAC	Class B Common Stock	Other	$0	-22,500	-4.3%	$0.000000	495,000	13 Jan 2022	Class A Common Stock	22,500		See Footnote	F1, F2, F3

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

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-261352) under the heading "Description of Securities," the shares of Class B common stock of the issuer will automatically convert into shares of Class A common stock of the issuer at the time of the issuer's initial business combination or earlier at the option of the holders thereof, on a one-for-one basis, subject to certain adjustments described therein, and have no expiration date.
F2	As contemplated in connection with the initial public offering of the Issuer, 22,500 shares of Class B Common Stock of the Issuer were returned by La Jolla Group, Inc., the record holder of the securities reported herein, of which the reporting person is a director, for no consideration and cancelled because the underwriters' over-allotment option was not exercised in full.
F3	La Jolla Group, Inc., is the record holder of the securities reported herein, of which the reporting person is a director. As a director of La Jolla Group, Inc., Mr. Callagy has voting and dispositive power over the securities held directly by La Jolla Group, Inc., and disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.