Jonathan D. Sokoloff - Sep 10, 2021 Form 4 Insider Report for JOANN Inc. (JOAN)

Role: Director, 10%+ Owner
Signature: /s/ Andrew C. Goldberg, Attorney-in-fact
Stock symbol: JOAN
Transactions as of: Sep 10, 2021
Transactions value $: $0
Form type: 4
Date filed: 9/14/2021, 07:44 PM
Previous filing: Sep 3, 2021
Next filing: Mar 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JOAN	Common Stock	Other	-$6.06M	-533K	-1.88%	$11.38^*	27.8M	Sep 10, 2021	See footnote.	F1, F2, F3, F4
transaction	JOAN	Common Stock	Other	$6.06M	+533K	+1.95%	$11.38^*	27.8M	Sep 10, 2021	See footnote.	F1, F2, F3, F4

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
holding	JOAN	Restricted Stock Units						7.81K	Sep 10, 2021	Common Stock	7.81K		Direct	F5, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 4 is being filed as a result of a rebalancing transaction in which Green Equity Investors Side CF, L.P. ("Side CF") transferred 532,672 shares of Common Stock of the Issuer to Green Equity Investors CF, L.P. ("Main CF") to correct a scrivener's error in the recorded holdings of each of Main CF and Side CF (the "Transaction"). There was no change in the aggregate number of shares of Common Stock beneficially owned by Main CF, Side CF, and LGP Associates CF, LLC ("Associates CF") as a result of such transaction. The price reflected in this Form 4 is the closing price on April 16, 2021, the record date of the holdings as to which the scrivener's error related.
F2	Represents shares of Common Stock transferred to Main CF by Side CF as part of the Transaction.
F3	Represents shares of Common Stock owned by Main CF, Side CF, and Associates CF. Of the shares of Common Stock reported, 20,436,421 are held by Main CF following the Transaction, 7,293,957 are held by Side CF following the Transaction, and 96,979 are held by Associates CF.
F4	Mr. Sokoloff directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares of Common Stock owned by Main CF, Side CF, and Associates CF. Mr. Sokoloff disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F5	Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
F6	The restricted stock unit vests on March 17, 2022.
F7	The restricted stock units reported on this row are held by Mr. Sokoloff for the benefit of Leonard Green & Partners, L.P. Mr. Sokoloff disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.