Mayo A. Shattuck III - Nov 30, 2023 Form 3 Insider Report for Hut 8 Corp. (HUT)

Role
Director
Signature
/s/ Asher Genoot, Attorney-in-Fact
Stock symbol
HUT
Transactions as of
Nov 30, 2023
Transactions value $
$0
Form type
3
Date filed
12/5/2023, 08:00 PM
Previous filing
Jul 5, 2023
Next filing
Mar 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
holding HUT Common stock, par value $0.01 per share 54,903 Nov 30, 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
holding HUT Stock Option(2) (right to buy) Nov 30, 2023 Common stock, par value $0.01 per share 81,935 $0.39 Direct F2, F3
holding HUT Stock Option(4) (right to buy) Nov 30, 2023 Common stock, par value $0.01 per share 163,870 $0.39 Direct F4, F5

Explanation of Responses:

Id Content
F1 On November 30, 2023, in connection with the consummation of the business combination (the "Business Combination") between Hut 8 Corp. (the "Company"), U.S. Data Mining Group, Inc., a Nevada corporation ("USBTC") and Hut 8 Mining Corp., a corporation existing under the laws of British Columbia ("Hut 8"), the Reporting Person exchanged his shares of USBTC common stock for shares of the Company's Common Stock, par value $0.01 per share ("Common Stock"), at an exchange ratio of 0.6716 in accordance with the terms of the Business Combination.
F2 Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the "2021 USBTC Options") held by the Reporting Person to purchase shares of common stock of USBTC prior to the consummation of the Business Combination on November 30, 2023. The 2021 USBTC Options were originally issued by USBTC on December 3, 2021.
F3 The shares vest over a four-year period which began on December 10, 2021, with 20,483 shares that vested on December 10, 2022 and the remaining shares vesting pro-rata on a monthly basis over the remaining three-year period.
F4 Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the "2023 USBTC Options") held by the Reporting Person to purchase shares of common stock of USBTC prior to the consummation of the Business Combination on November 30, 2023. The 2023 USBTC Options were originally issued by USBTC on January 5, 2023.
F5 The shares vest over a four-year period which began on January 5, 2023, with 40,967 shares vesting on January 5, 2024 and the remaining shares vesting pro-rata on a monthly basis over the remaining three-year period.