Authentic Equity Sponsor LLC - Aug 3, 2021 Form 4 Insider Report for Authentic Equity Acquisition Corp. (AEAC)

Role: 10%+ Owner
Signature: Authentic Equity Sponsor LLC By: /s/ David Hooper Title: President and Secretary
Stock symbol: AEAC
Transactions as of: Aug 3, 2021
Transactions value $: $2,500,000
Form type: 4
Date filed: 8/4/2021, 06:39 PM
Next filing: Jan 27, 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	AEAC	Class B Ordinary Shares	Other	$2.5M	+25K	+0.36%	$100.00^*	6.93M	Aug 3, 2021	Class A Ordinary Shares	25K		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-251575) under the heading "Description of Securities-Founder Shares", the Class B ordinary shares, par value $0.0001, will automatically convert into Class A ordinary shares, par value $0.0001, of the issuer at the time of the issuer's initial business combination transaction on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and will have no expiration date.
F2	In connection with Joseph Baker's resignation as an independent director of the issuer, Authentic Equity Sponsor LLC (the "Sponsor") repurchased 25,000 Class B ordinary shares of the issuer from Mr. Baker for $100.00, or $0.004 per share.
F3	This Form 3 is being filed by the Sponsor. There are three managers of the Sponsor's board of managers. Each manager has one vote, and the approval of a majority is required to approve an action of the Sponsor. Under the so-called "rule of three", if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities. This is the situation with regard to the Sponsor. Based upon the foregoing analysis, no individual manager of the Sponsor exercises voting or dispositive control over any of the securities held by the Sponsor, even those in which he directly holds a pecuniary interest. Accordingly, none of them will be deemed to have or share beneficial ownership of such shares.