Concord Sponsor Group III LLC - Nov 16, 2023 Form 4 Insider Report for Concord Acquisition Corp III (CNDB)

Role
10%+ Owner
Signature
/s/ Jason T. Simon, Attorney-in-Fact
Stock symbol
CNDB
Transactions as of
Nov 16, 2023
Transactions value $
$0
Form type
4
Date filed
11/17/2023, 06:00 PM
Previous filing
Nov 3, 2021
Next filing
Mar 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CNDB Class A Common Stock Conversion of derivative security +7.96M 7.96M Nov 16, 2023 Direct 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 CNDB Class B Common Stock Conversion of derivative security -7.96M -100% 1 Nov 16, 2023 Class A Common Stock 7.96M Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A common stock of the Issuer acquired upon conversion of shares of Class B common stock of the Issuer at the Reporting Person's election.
F2 The shares are held directly by the Reporting Person. The Reporting Person is governed by a board of managers consisting of three managers, Bob Diamond, David Schamis and Jeff Tuder. Any action by the Reporting Person with respect to the issuer or the issuer's securities held by the Reporting Person, including voting and dispositive decisions, requires at least a majority vote of the managers of the board of managers. Under the so-called "rule of three", because voting and dispositive decisions are made by a majority of the managers, none of the managers is deemed to be a beneficial owner of issuer's securities held by the Sponsor, even those in which such manager holds a pecuniary interest. Accordingly, none of the managers on the Reporting Person's board of managers is deemed to have or share beneficial ownership of the founder shares held by the Reporting Person.
F3 The shares of Class B common stock have no expiration date and will automatically convert into shares of Class A common stock at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as set forth in the Issuer's registration statement on Form S-1 (File No. 333-254789).