Thomas Paul Muniz - 16 Sep 2021 Form 4 Insider Report for Archer Aviation Inc. (ACHR)

Role: Chief Operating Officer
Signature: /s/ Andy Missan, Attorney-in-fact
Issuer symbol: ACHR
Transactions as of: 16 Sep 2021
Net transactions value: $0
Form type: 4
Filing time: 20 Sep 2021, 21:19:32 UTC
Next filing: 10 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACHR	Class A Common Stock	Conversion of derivative security		+1,551,816			1,551,816	16 Sep 2021	Direct	F1

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
transaction	ACHR	Class B Common Stock	Other	$0	+1,551,816		$0.000000	1,551,816	16 Sep 2021	Class A Common Stock	1,551,816		Direct	F2
transaction	ACHR	Class B Common Stock	Conversion of derivative security	$0	-1,551,816	-100%	$0.000000^*	0	16 Sep 2021	Class A Common Stock	1,551,816		Direct	F1

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

Explanation of Responses:

Id	Content
F1	In connection with the Merger, the reporting person elected to convert all of the Class B common stock issuable to such reporting issuer to Class A common stock.
F2	On September 16, 2021, pursuant to that certain Business Combination Agreement, as amended and restated on July 29, 2021, by and among the Issuer, Artemis Acquisition Sub Inc. ("Merger Sub") and Archer Aviation Inc. ("Legacy Archer"), Merger Sub merged with and into Legacy Archer with Legacy Archer surviving as a wholly owned subsidiary of the Issuer (the "Merger"). Upon consummation of the Merger (the "Effective Time"), each issued and outstanding share of common stock of Legacy Archer was canceled and converted into approximately 1.00656519 shares of Class B common stock of the Issuer.

Content

In connection with the Merger, the reporting person elected to convert all of the Class B common stock issuable to such reporting issuer to Class A common stock.

On September 16, 2021, pursuant to that certain Business Combination Agreement, as amended and restated on July 29, 2021, by and among the Issuer, Artemis Acquisition Sub Inc. ("Merger Sub") and Archer Aviation Inc. ("Legacy Archer"), Merger Sub merged with and into Legacy Archer with Legacy Archer surviving as a wholly owned subsidiary of the Issuer (the "Merger"). Upon consummation of the Merger (the "Effective Time"), each issued and outstanding share of common stock of Legacy Archer was canceled and converted into approximately 1.00656519 shares of Class B common stock of the Issuer.