Spruce House Partnership LLC - Aug 31, 2021 Form 4 Insider Report for GTT Communications, Inc. (GTT)

Role
10%+ Owner
Signature
THE SPRUCE HOUSE PARTNERSHIP LLC: By: The Spruce House Partnership (QP) LP, member; By: Spruce House Capital LLC, its general partner; By: /s/ Tom Walker, President, Treasurer and Secretary
Stock symbol
GTT
Transactions as of
Aug 31, 2021
Transactions value $
$0
Form type
4
Date filed
9/2/2021, 07:45 AM
Previous filing
Jun 11, 2021
Next filing
Dec 9, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTT Common Stock Other $0 -15.9M -100% $0.00* 0 Aug 31, 2021 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 31, 2021, The Spruce House Partnership LLC (the "Fund") entered into a Stock Transfer Agreement by and between the Issuer and the Fund. Pursuant to the Stock Transfer Agreement, the Fund, for no consideration, immediately upon the execution thereof, irrevocably transferred, assigned, conveyed and delivered to the Issuer (1) all of its right, title and interest in 1,376,370 shares of the Fund's shares of the Issuer's common stock and (2) any and all economic rights and interests associated with the Fund's remaining 14,498,630 shares of the Issuer's common stock (the "Remaining Shares") but retained its right, title and interest in any voting rights associated with the Remaining Shares.
F2 The reported securities are held in the account of the Fund, a private investment fund managed by Spruce House Investment Management LLC (the "Investment Manager"), and may be deemed to be beneficially owned by the Investment Manager, the members of the Fund, The Spruce House Partnership (AI) LP and The Spruce House Partnership (QP) LP (together, the "Fund Members"), the general partner of the Fund Members, Spruce House Capital LLC (the "General Partner"), and by Zachary Sternberg and Benjamin Stein, managing members of the Investment Manager and the General Partner (the "Managing Members").
F3 Each of the Investment Manager, the Fund Members, the General Partner and the Managing Members disclaim beneficial ownership of the reported securities held by the Fund, except to the extent of his or its pecuniary interest therein. The Fund, the Fund Members, the Investment Manager, the General Partner and the Managing Members affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.