| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | TELL | Common Stock | Sale | -$481K | -418K | -5.49% | $1.15 | 7.2M | Mar 20, 2023 | Direct | F1, F2, F3 |
| transaction | TELL | Common Stock | Sale | -$449K | -383K | -5.33% | $1.17 | 6.81M | Mar 21, 2023 | Direct | F1, F2, F4 |
| Id | Content |
|---|---|
| F1 | The Reporting Person previously pledged 25,000,000 shares of common stock ("Pledged Shares") of Tellurian Inc. ("Tellurian") as part of a collateral package to secure a loan for certain real estate investments. The loan agreement, dated April 27, 2017, was entered into by the Reporting Person, as borrower, Wilmington Trust, National Association ("Wilmington"), as administrative agent, and various lenders (the "Loan Agreement"). On February 7, 2023, pursuant to the Loan Agreement and other loan documents, Wilmington exercised its right as administrative agent to become a substituted shareholder and caused the Pledged Shares to be transferred into its account. |
| F2 | Under one of the loan documents, Wilmington may dispose of the Pledged Shares at the time and in such manner that it determines in its sole and absolute discretion and provides that Wilmington and the lenders agree to use their commercially reasonable efforts to avoid any material disruption of the issuer's stock price during the sale process. Asserting the right to sell the Pledged Shares under the Loan Agreement and related documents, Wilmington and the lenders caused the Pledged Shares referenced in Table I to be sold. After giving effect to the sales reported in Table I, Wilmington holds for future sale 5,154,843 Pledged Shares. |
| F3 | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.14 to $1.18, inclusive. The Reporting Person undertakes to provide to Tellurian, any security holder of Tellurian, 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 Footnote 3 to this Form 4. |
| F4 | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.15 to $1.20, inclusive. The Reporting Person undertakes to provide to Tellurian, any security holder of Tellurian, 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 Footnote 4 to this Form 4. |