Brian Protiva - Jul 15, 2022 Form 4 Insider Report for ADTRAN Holdings, Inc. (ADTN)

Role: CEO of ADVA, Director
Signature: /s/ Michael Foliano, by power of attorney
Stock symbol: ADTN
Transactions as of: Jul 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/19/2022, 04:54 PM
Next filing: Jul 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADTN	Common Stock	Award		+331K			331K	Jul 15, 2022	Direct	F1
transaction	ADTN	Common Stock	Award		+19.4K			19.4K	Jul 15, 2022	By spouse	F1

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

Explanation of Responses:

Id	Content
F1	Pursuant to the Business Combination Agreement (the "Business Combination Agreement"), dated August 30, 2021, by and among ADTRAN, Inc.; ADVA Optical Networking SE ("ADVA"); the Issuer (f/k/a Acorn HoldCo, Inc.); and Acorn MergeCo, Inc., the Issuer and ADVA consummated the Exchange Offer (as defined in the Business Combination Agreement) and ADVA became a subsidiary of the Issuer on July 15, 2022 (the "Closing Date"). On the Closing Date, each ADVA share tendered by the reporting person was exchanged for 0.8244 shares of the Issuer's common stock.

Content

Pursuant to the Business Combination Agreement (the "Business Combination Agreement"), dated August 30, 2021, by and among ADTRAN, Inc.; ADVA Optical Networking SE ("ADVA"); the Issuer (f/k/a Acorn HoldCo, Inc.); and Acorn MergeCo, Inc., the Issuer and ADVA consummated the Exchange Offer (as defined in the Business Combination Agreement) and ADVA became a subsidiary of the Issuer on July 15, 2022 (the "Closing Date"). On the Closing Date, each ADVA share tendered by the reporting person was exchanged for 0.8244 shares of the Issuer's common stock.