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

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
Issuer symbol
N/A
Transactions as of
31 Aug 2021
Net transactions value
$0
Form type
4
Filing time
02 Sep 2021, 07:45:14 UTC
Previous filing
11 Jun 2021
Next filing
09 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTT Common Stock Other $0 -15,875,000 -100% $0.000000* 0 31 Aug 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.