Kevin Griffin - May 25, 2023 Form 4 Insider Report for SPRUCE POWER HOLDING CORP (SPRU)

Role
Director
Signature
/s/ Stacey Constas, Attorney In Fact
Stock symbol
SPRU
Transactions as of
May 25, 2023
Transactions value $
$0
Form type
4
Date filed
5/30/2023, 02:59 PM
Previous filing
May 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPRU Common Stock Award $0 +203K +184.39% $0.00 313K May 25, 2023 Direct F1
holding SPRU Common Stock 3.51M May 25, 2023 By MGG SF Drawdown Unlevered Fund II LP F2
holding SPRU Common Stock 630K May 25, 2023 By MGG Investment Group, LP F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The securities awarded are in the form of restricted stock units issued pursuant to the issuer's 2020 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of issuer common stock. Subject to the reporting person's continued service through the vesting date, the restricted stock units shall become fully vested on the first anniversary of May 25, 2024.
F2 Includes 3,505,000 shares of common stock held by MGG SF Drawdown Unlevered Fund II LP ("MGG Fund"), of which the reporting person is the Chief Executive Officer and Chief Investment Officer. Notwithstanding his dispositive and voting control over such shares, the reporting person disclaims beneficial ownership of the shares of our common stock held by MGG Fund, except to the extent of his proportionate pecuniary interest therein.
F3 Includes 630,000 shares of the issuer's common stock ("MGG Shares") in the aggregate owned directly by certain affiliates of MGG Investment Group, LP, a Delaware limited partnership ("MGG"), an affiliate of Spac Funding II, of which Mr. Griffin (a director of the issuer) is the Chief Executive Officer and Chief Investment Officer. Notwithstanding their dispositive and voting control over such MGG Shares, each of Mr. Griffin and Spac Funding II disclaim beneficial ownership of the securities held by MGG, except to the extent of his or its pecuniary interest therein.