Brian C. Cook - Apr 4, 2022 Form 4 Insider Report for Local Bounti Corporation/DE (LOCL)

Role: President
Signature: /s/ Kathleen Valiasek, as Attorney-in-Fact for Brian C. Cook
Stock symbol: LOCL
Transactions as of: Apr 4, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/6/2022, 05:04 PM
Next filing: Jan 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOCL	Common Stock	Award		+125K			125K	Apr 4, 2022	Direct	F1
transaction	LOCL	Common Stock	Award	$0	+500K	+400.85%	$0.00	625K	Apr 4, 2022	Direct	F2

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

Explanation of Responses:

Id	Content
F1	As contemplated by that certain Purchase and Sale Agreement, dated as of March 14, 2022, by and among Mosaic Capital Investors I, LP, True West Capital Partners Fund II L.P., f/k/a Seam Fund II, L.P., Mosaic Capital Investors LLC, Hollandia Produce Group, Inc. ("HPG") and Local Bounti Operating Company LLC, a wholly-owned subsidiary of the Issuer ("Local Bounti LLC"), the Issuer (through Local Bounti LLC) and pursuant to a certain Unit Purchase and Sale Agreement, dated as of March, 14, 2022, acquired all of the equity interests and rights to acquire equity interests of HPG and its subsidiaries, from each selling parties, including the Reporting Person (the "Transaction"). At the Closing on April 4, 2022 of the Transaction, the Reporting Person received 124,735 shares of Common Stock of the Issuer in consideration as a selling party.
F2	Represents 500,000 restricted stock units issued under the Issuer's 2021 Equity Incentive Plan which will vest as follows, subject to the continuous service of the Reporting Person on each vesting date: 10% will vest on May 1, 2023 with the remaining RSUs vesting in three (3) annual 30% installments thereafter.

Content

As contemplated by that certain Purchase and Sale Agreement, dated as of March 14, 2022, by and among Mosaic Capital Investors I, LP, True West Capital Partners Fund II L.P., f/k/a Seam Fund II, L.P., Mosaic Capital Investors LLC, Hollandia Produce Group, Inc. ("HPG") and Local Bounti Operating Company LLC, a wholly-owned subsidiary of the Issuer ("Local Bounti LLC"), the Issuer (through Local Bounti LLC) and pursuant to a certain Unit Purchase and Sale Agreement, dated as of March, 14, 2022, acquired all of the equity interests and rights to acquire equity interests of HPG and its subsidiaries, from each selling parties, including the Reporting Person (the "Transaction"). At the Closing on April 4, 2022 of the Transaction, the Reporting Person received 124,735 shares of Common Stock of the Issuer in consideration as a selling party.

Represents 500,000 restricted stock units issued under the Issuer's 2021 Equity Incentive Plan which will vest as follows, subject to the continuous service of the Reporting Person on each vesting date: 10% will vest on May 1, 2023 with the remaining RSUs vesting in three (3) annual 30% installments thereafter.