Daniel Ondeck - Aug 21, 2023 Form 4 Insider Report for Franchise Group, Inc. (FRG)

Role
10%+ Owner
Signature
/s/ Daniel Ondeck
Stock symbol
FRG
Transactions as of
Aug 21, 2023
Transactions value $
$0
Form type
4
Date filed
8/21/2023, 05:00 PM
Previous filing
Aug 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRG Common Stock, par value $0.01 per share Sale -6.76K -100% 0 Aug 21, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Daniel Ondeck is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This statement is being filed by Daniel Ondeck (the "Reporting Person"). In connection with the Issuer's merger (the "Merger") with Freedom VCM Subco, Inc., a Delaware corporation ("Merger Sub") and wholly-owned subsidiary of Freedom VCM, Inc., a Delaware corporation ("Parent"), immediately prior to the effective time of the Merger and pursuant to a rollover agreement dated as of August 10, 2023, by and among the Reporting Person, Freedom VCM Holdings, LLC ("Topco") and B. Riley Private Shares 2023-2 QP, LLC, a Delaware limited liability company ("BRQP") (the "Rollover Agreement"), the Reporting Person contributed each share of common stock of the Issuer held by the Reporting Person to BRQP in exchange for an interest in BRQP calculated pursuant to the Rollover Agreement.
F2 (Continued from Footnote 1) Pursuant to a contribution agreement, dated as of August 21, 2023 by and among Topco, BRQP and B. Riley Private Shares 2023-2 QC, LLC, a Delaware limited liability company ("BRQC") (the "Contribution Agreement"), BRQP subsequently contributed each share of common stock of the Issuer held by BRQP to Topco in exchange for a number of common units in Topco calculated pursuant to the Contribution Agreement.