1P Management LLC - Jul 26, 2021 Form 4 Insider Report for Logistics Innovation Technologies Corp. (LITT)

Role
Director, 10%+ Owner
Signature
/s/ Christina Min, Attorney-in-Fact for 1P Management, LLC
Stock symbol
LITT
Transactions as of
Jul 26, 2021
Transactions value $
$0
Form type
4
Date filed
7/26/2021, 05:44 PM
Previous filing
Jun 10, 2021
Next filing
Jun 20, 2023

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 LITT Class B Common Stock Disposed to Issuer $0 -92K -1.24% $0.00 7.31M Jul 26, 2021 Class A Common Stock 92K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 26, 2021, 1P Management, LLC forfeited to the Issuer at no cost 91,991 shares of Class B common stock of the Issuer, in connection with the election by the underwriters of the Issuer's initial public offering of units to exercise an option granted to them to cover over-allotments in part and not in full.
F2 The shares of Class B common stock are convertible for shares of the Issuer's Class A common stock as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333- 253949) (the "Registration Statement") and have no expiration date.
F3 1P Management, LLC is the record holder of the securities reported herein. Isaac Applbaum is the manager of 1P Management, LLC and has voting and investment discretion with respect to the securities held of record by 1P Management, LLC.

Remarks:

See Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer.