Frederick Stanford - Nov 22, 2021 Form 4 Insider Report for i3 Verticals, Inc. (IIIV)

Role
President
Signature
/s/ Paul Maple, Attorney-in-Fact for Frederick Stanford
Stock symbol
IIIV
Transactions as of
Nov 22, 2021
Transactions value $
-$318,170
Form type
4
Date filed
11/23/2021, 03:36 PM
Next filing
Feb 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IIIV Class A common stock, par value $0.0001 per share Conversion of derivative security +15K 15K Nov 22, 2021 Direct F1
transaction IIIV Class A common stock, par value $0.0001 per share Sale -$297K -14K -93.57% $21.14 964 Nov 22, 2021 Direct F2, F3
transaction IIIV Class A common stock, par value $0.0001 per share Sale -$21.4K -964 -100% $22.25 0 Nov 22, 2021 Direct F2
transaction IIIV Class B common stock, par value $0.0001 per share Other -15K -11.31% 118K Nov 22, 2021 Direct 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
transaction IIIV Common Units Conversion of derivative security -15K -11.31% 118K Nov 22, 2021 Class A common stock, par value $0.0001 per share 15K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") of i3 Verticals, Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common units in i3 Verticals, LLC (the "Common Units").
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 14, 2021.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.51 to $21.42, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B common stock, par value $0.0001 per share ("Class B Common Stock") are cancelled for no consideration on a one-to-one basis upon redemption of the Common Units for shares of Class A Common Stock of the Issuer.
F5 The vested Common Units may be redeemed by the Reporting Person at any time for an equal number of shares of Class A Common Stock or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon the Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled.
F6 All Common Units are fully vested and have no expiration date.