Frank R. Martire - May 10, 2022 Form 4 Insider Report for System1, Inc. (SST)

Role
Director, 10%+ Owner
Signature
/s/ Frank R. Martire
Stock symbol
SST
Transactions as of
May 10, 2022
Transactions value $
$0
Form type
4
Date filed
5/12/2022, 09:44 PM
Previous filing
Feb 10, 2022
Next filing
Nov 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SST Class A common stock, par value $0.0001 per share Award +32K 32K May 10, 2022 Direct F1, F2
holding SST Class A common stock, par value $0.0001 per share 4.45M May 10, 2022 See Note F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents an award of restricted stock units pursuant to the Issuer's 2022 Incentive Award Plan. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock. Pursuant to the terms of the award agreement, 6,400 of the restricted stock units vested on the date of grant, and the remaining aggregate 25,600 restricted stock units will vest ratably on each of July 28, 2022, October 28, 2022, January 28, 2023 and April 28, 2023.
F2 Not applicable.
F3 Directly owned by BGPT Trebia LP. The sole general partner of BGPT is Bridgeport Partners GP LLC ("Bridgeport Partners GP"). Each of the Reporting Person and Frank Martire, III ("Martire III" and together with BGPT, Bridgeport Partners GP and the Reporting Person, the "Parties") is a managing member of Bridgeport Partners GP. Because of the relationships among the Parties, the Parties may be deemed to beneficially own the securities reported herein to the extent of their respective pecuniary interests. Each of the Parties disclaims beneficial ownership of the securities reported herein, except to the extent of such Party's pecuniary interest therein, if any.