Oakleigh Thorne - Mar 24, 2023 Form 4 Insider Report for Gogo Inc. (GOGO)

Role
CEO and Chairman, Director, 10%+ Owner
Signature
/s/ Crystal L. Gordon, Attorney-in-Fact for Oakleigh Thorne
Stock symbol
GOGO
Transactions as of
Mar 24, 2023
Transactions value $
-$160,393
Form type
4
Date filed
3/28/2023, 04:18 PM
Previous filing
Mar 21, 2023
Next filing
Mar 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GOGO Common Stock Options Exercise +22.5K +4.47% 526K Mar 24, 2023 Direct F1
transaction GOGO Common Stock Tax liability -$160K -11.5K -2.18% $13.98 514K Mar 24, 2023 Direct
holding GOGO Common Stock 100 Mar 24, 2023 By Spouse
holding GOGO Common Stock 27.3M Mar 24, 2023 See Footnote F2

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 GOGO Restricted Stock Units Options Exercise $0 -22.5K -25% $0.00 67.4K Mar 24, 2023 Common Stock 22.5K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 Reflects (i) 27,118,600 shares of common stock held directly by Thorndale Farm Gogo, LLC and (ii) 139,536 shares of common stock held directly by OAP, LLC. Thorndale Farm, Inc. is the managing member of Thorndale Farm Gogo, LLC. Mr. Thorne, as the chief executive officer of Thorndale Farm, Inc. may be deemed to have beneficial ownership of the shares of common stock held by Thorndale Farm Gogo, LLC. Additionally, Mr. Thorne, as the managing member of OAP, LLC, may be deemed to have beneficial ownership of the shares of common stock held by OAP, LLC. Mr. Thorne and Thorndale Farm, Inc. disclaim beneficial ownership of such shares of common stock except, in each case, to the extent of any pecuniary interest therein and this report shall not be deemed an admission that Mr. Thorne or Thorndale Farm, Inc. is a beneficial owner of such shares of common stock for purposes of Section 16 or for any other purpose.
F3 On March 24, 2022, the reporting person was granted 89,900 restricted stock units, vesting in four equal annual installments on the first four anniversaries of March 24, 2022, subject to continued employment with the Company.