Shahraab Ahmad - Mar 2, 2023 Form 4 Insider Report for Atlantic Coastal Acquisition Corp. (ACAH)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
By: Atlantic Coastal Acquisition Management LLC, /s/ Shahraab Ahmad, Managing Member
Stock symbol
ACAH
Transactions as of
Mar 2, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 03:06 PM
Previous filing
Jan 19, 2022
Next filing
Mar 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACAH Class A Common Stock, par value $0.0001 per share Options Exercise +8.42M 8.42M Mar 2, 2023 See Footnote F1, F2

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 ACAH Class B Common Stock, par value $0.0001 per share Options Exercise -8.42M -100% 1 Mar 2, 2023 Class A Common Stock, par value $0.0001 per share 8.42M 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 On March 2, 2023 the Reporting Persons elected to exercise their right to convert 8,424,999 shares of Class B Common Stock into 8,424,999 shares of Class A Common Stock.
F2 Atlantic Coastal Acquisition Management LLC is the record holder of the securities reported herein. Shahraab Ahmad is the managing member of Atlantic Coastal Acquisition Management LLC and has sole voting and investment discretion with respect to the securities held of record by Atlantic Coastal Acquisition Management LLC. Mr. Ahmad disclaims any beneficial ownership of the securities held by Atlantic Coastal Acquisition Management LLC.
F3 The Class B Common Stock are convertible into the Issuer's Class A Common Stock on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described under the heading "Description of Securities-Common Stock" in the Issuer's registration statement on Form S-1 (File No. 333-253003) and the Issuer's DEF 14A filed February 14th, 2023 and have no expiration date.