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

Role
Co-Chief Executive Officer, Director
Signature
Morgan Callagy By: Morgan Callagy
Stock symbol
RCAC
Transactions as of
Jan 13, 2022
Transactions value $
$0
Form type
4
Date filed
1/14/2022, 02:59 PM
Previous filing
Dec 16, 2021
Next filing
Sep 8, 2022

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 -57.1K -9.4% $0.00 550K Jan 13, 2022 Class A Common Stock 57.1K Direct F1
transaction RCAC Class B Common Stock Other $0 -22.5K -4.35% $0.00 495K Jan 13, 2022 Class A Common Stock 22.5K See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

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.