Ted Schlein - Aug 26, 2021 Form 4 Insider Report for IronNet, Inc. (IRNT)

Role
Director
Signature
/s/ James Gerber, Attorney-in-Fact
Stock symbol
IRNT
Transactions as of
Aug 26, 2021
Transactions value $
$3,000,000
Form type
4
Date filed
8/30/2021, 07:42 PM
Previous filing
Sep 9, 2021
Next filing
Sep 14, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRNT Common Stock Award +5.72M 5.72M Aug 26, 2021 By Funds F1, F2, F3, F4
transaction IRNT Common Stock Award $2M +200K +3.5% $10.00 5.92M Aug 26, 2021 By Funds F5
transaction IRNT Common Stock Award $1M +100K $10.00 100K Aug 26, 2021 By Schlein Family Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received on August 26, 2021 pursuant to the Agreement and Plan of Reorganization and Merger, dated as of March 15, 2021, as amended by Amendment No. 1 to Agreement and Plan of Reorganization and Merger, dated as of August 6, 2021 (the "Merger Agreement"), by and among LGL Systems Acquisition Corp. ("LGL"), LGL Systems Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of LGL, and IronNet Cybersecurity, Inc., a Delaware corporation (the "Business Combination").
F2 KPCB Digital Growth Fund II, LLC ("KPCB DGF II") and KPCB Digital Growth Founders Fund II, LLC ("DGF II Founders") (together, the "Funds") may also receive, as additional merger consideration an aggregate of 80,587 shares of the Issuer's common stock if the volume weighted average share price of the Issuer's common stock equals or exceeds $13.00 for ten consecutive days during the two year period following the closing of the Business Combination.
F3 Received in the Business Combination in exchange for an aggregate of 7,027,840 shares of IronNet Cybersecurity, Inc.
F4 Includes (i) 5,579,522 shares of the Issuer's common stock held by KPCB DGF II; and (ii) 141,892 shares of the Issuer's common stock held by DGF II Founders. All such shares are held for convenience in the name of KPCB Holdings, Inc., as nominee, for the accounts of such individuals and entities. The managing member of KPCB DGF II and DGF II Founders is KPCB DGF II Associates, LLC ("DGF II Associates"). The Reporting Person, together with L. John Doerr and Mary Meeker, the managing members of DGF II Associates, exercise shared voting and dispositive control over the shares held by KPCB DGF II and DGF II Founders. The Reporting Person disclaims beneficial ownership of all shares held by KPCB DGF II and DGF II Founders except to the extent of his pecuniary interest therein and this report shall not be an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F5 Includes (i) 5,774,562 shares of the Issuer's common stock held by KPCB DGF II; and (ii) 146,852 shares of the Issuer's common stock held by DGF II Founders. All such shares are held for convenience in the name of KPCB Holdings, Inc., as nominee, for the accounts of such individuals and entities. The managing member of KPCB DGF II and DGF II Founders is DGF II Associates. The Reporting Person, together with L. John Doerr and Mary Meeker, the managing members of DGF II Associates, exercise shared voting and dispositive control over the shares held by KPCB DGF II and DGF II Founders. The Reporting Person disclaims beneficial ownership of all shares held by KPCB DGF II except to the extent of his pecuniary interest therein and this report shall not be an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.