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

Role
Director
Signature
By: /s/ Iqbaljit Kahlon
Stock symbol
ACAH
Transactions as of
Mar 2, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 03:08 PM
Previous filing
Jan 13, 2022
Next filing
Apr 19, 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 +50K 50K Mar 2, 2023 Direct F1

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 -50K -100% 0 Mar 2, 2023 Class A Common Stock, par value $0.0001 per share 50K Direct F1, F2
* 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 Person elected to exercise their right under Section 4.3(b)(i) of the Company's Second Amended Restated Certificate of Incorporation to convert 50,000 shares of Class B Common Stock into 50,000 shares of Class A Common Stock.
F2 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.