Keith Jaffee - Dec 29, 2023 Form 4 Insider Report for Pinstripes Holdings, Inc. (BYN)

Role
10%+ Owner
Signature
/s/ Keith Jaffee
Stock symbol
BYN
Transactions as of
Dec 29, 2023
Transactions value $
$1,350,000
Form type
4
Date filed
1/3/2024, 04:34 PM
Previous filing
Dec 21, 2023
Next filing
Jan 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BYN Class A Common Stock Disposed to Issuer -2.71M -39.22% 4.19M Dec 29, 2023 By Banyan Acquisition Sponsor LLC F1
transaction BYN Class A Common Stock Disposed to Issuer -1.6M -38.08% 2.6M Dec 29, 2023 By Banyan Acquisition Sponsor LLC F2
transaction BYN Class A Common Stock Award $1.35M +169K $8.00 169K Dec 29, 2023 By various trusts of which the Reporting Person is trustee

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 BYN Class B-1 Shares Award +896K 896K Dec 29, 2023 Class A Common Stock 896K By Banyan Acquisition Sponsor LLC F2, F3
transaction BYN Class B-2 Shares Award +896K 896K Dec 29, 2023 Class A Common Stock 896K By Banyan Acquisition Sponsor LLC F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the merger between Banyan Acquisition Corporation. ("Banyan") and Pinstripes, Inc. ("Pinstripes"), 2,706,406 shares of Class A Common Stock ("Class A Shares") were forfeited for no consideration.
F2 Pursuant to the second amended and restated certificate of incorporation of Banyan ("Certificate of Incorporation"), 1,596,832 Class A Shares were reissued as 798,417 shares of Class B-1 Stock ("Class B-1 Shares") and 798,415 shares of Class B-2 Stock ("Class B-2 Shares"), each of which will automatically convert into Class A Shares upon achievement of a Class A Share trading price of $12.00 and $14.00, respectively.
F3 Includes 97,687 shares of Class B Common Stock ("Class B Shares") which, pursuant to the Certificate of Incorporation, became subject to the stock price vesting and automatic conversion provisions as Class B- 1 Shares.
F4 Includes 97,688 Class B Shares which, pursuant to the Certificate of Incorporation, became subject to the stock price vesting and automatic conversion provisions as Class B-2 Shares.