Brett Adcock - Apr 14, 2022 Form 4 Insider Report for Archer Aviation Inc. (ACHR)

Role
Director, 10%+ Owner
Signature
/s/ Andy Missan, Attorney-in-Fact for Brett Adcock
Stock symbol
ACHR
Transactions as of
Apr 14, 2022
Transactions value $
$0
Form type
4
Date filed
4/19/2022, 04:23 PM
Previous filing
Sep 27, 2021
Next filing
Aug 1, 2022

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 Disposed to Issuer $0 -5M -54.6% $0.00 4.16M Apr 14, 2022 Class A Common Stock 5M Direct F1, F2
holding ACHR Class B Common Stock 27.8M Apr 14, 2022 Class A Common Stock 27.8M See footnote F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of the Issuer's Class B common stock is convertible into one share of the Issuer's Class A common stock at any time and will convert automatically upon certain transfers, whether or not for value, or upon the earliest to occur of: (i) September 16, 2031; (ii) the date specified in writing by the holders of two-thirds of the then outstanding shares of Class B common stock; and (iii) the date as of which the number of outstanding shares of Class B common stock represents less than 10.0% of the aggregate number of shares of Class B common stock and Class A common stock oustanding.
F2 Represents the forfeiture of performance-based restricted stock units which vested on September 16, 2021, but for which settlement was deferred pursuant to Mr. Adcock's award agreement with the Issuer.
F3 The shares are held by Hight Drive Growth LLC. Mr. Adcock is the sole managing member of Hight Drive Growth LLC.