SCS Sponsor III LLC - Jul 11, 2022 Form 4 Insider Report for PROKIDNEY CORP. (PROK)

Signature
SCS SPONSOR III LLC, By: /s/ James Ryans, as Chief Financial Officer SC SPAC HOLDINGS LLC, AARON COWEN and KISHAN MEHTA, By: /s/ James Ryans, as attorney-in-fact
Stock symbol
PROK
Transactions as of
Jul 11, 2022
Transactions value $
$0
Form type
4
Date filed
7/13/2022, 04:25 PM
Previous filing
Aug 16, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PROK Class A ordinary shares Options Exercise $0 +6.22M +971.88% $0.00 6.86M Jul 11, 2022 Direct F1, F2
transaction PROK Class A ordinary shares Other $0 -6.86M -100% $0.00* 0 Jul 11, 2022 Direct F3

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 PROK Class B ordinary shares Options Exercise $0 -6.22M -100% $0.00* 0 Jul 11, 2022 Class A ordinary shares 6.22M Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

SCS Sponsor III LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The Class B ordinary shares held by the reporting owner, SCS Sponsor III LLC (the "Sponsor"), converted to Class A ordinary shares on a one-for-one basis upon the consummation of the business combination between the issuer and ProKidney LP.
F2 The Sponsor is managed by its managers, Chamath Palihapitiya and Kishan Mehta. A majority of the voting interests of the Sponsor are held by SC SPAC Holdings LLC, the successor by merger to ChaChaCha DNA III, LLC ("SC SPAC Holdings"). Messrs. Mehta and Cowen may be deemed to control the other member of the Sponsor. Messrs. Mehta and Cowen and SC SPAC Holdings may be deemed to beneficially own shares held by the Sponsor by virtue of their direct or indirect interests in the Sponsor or their shared control over the Sponsor, as the case may be.
F3 Represents the distribution for no consideration by the Sponsor of 6,860,000 Class A ordinary shares to its members pro rata in accordance with their respective interests.
F4 The Class B ordinary shares were automatically convertible into Class A ordinary shares at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and had no expiration date.

Remarks:

The inclusion of the securities in this report shall not be deemed an admission by the reporting person of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose or that any of the transactions reported herein are subject to Section 16.