| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AIRJ | Class A Common Stock | Options Exercise | +6.83M | 6.83M | Mar 14, 2024 | By XPDI Sponsor II LLC | F1, F2 | |||
| transaction | AIRJ | Class A Common Stock | Award | $53.5M | +6.29M | $8.50 | 6.29M | Mar 14, 2024 | By TEP Montana, LLC | F3 | |
| transaction | AIRJ | Class A Common Stock | Other | $0 | -2.97M | -47.21% | $0.00 | 3.32M | Mar 14, 2024 | By TEP Montana, LLC | F3, F4 |
| transaction | AIRJ | Class A Common Stock | Award | +658K | +19.81% | 3.98M | Mar 14, 2024 | By TEP Montana, LLC | F3, F5 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AIRJ | Class B Common Stock | Other | -270K | -3.8% | 6.83M | Mar 14, 2024 | Class A Common Stock | 270K | By XPDI Sponsor II LLC | F1, F2, F6 | |||
| transaction | AIRJ | Class B Common Stock | Options Exercise | -6.83M | -100% | 0 | Mar 14, 2024 | Class A Common Stock | 6.83M | By XPDI Sponsor II LLC | F1, F2 |
| Id | Content |
|---|---|
| F1 | Upon the completion of the Business Combination, the shares of Class B Common Stock issued at the Issuer's (formerly, Power & Digital Infrastructure Acquisition II Corp.) initial public offering were automatically converted into shares of the Issuer's Class A Common Stock on a one-to-one basis. |
| F2 | XPDI Sponsor II LLC (the "Sponsor") is controlled by its managing members, Transition Equity Partners, LLC ("TEP") and XMS XPDI Sponsor II Holdings, LLC ("XMS XPDI Holdings"). Patrick C. Eilers and Theodore J. Brombach are the managing members of TEP and XMS XPDI Holdings, respectively. Accordingly, all of the shares held by the Sponsor may be deemed to be beneficially held by each of the foregoing individuals and entities. Each such person disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein. |
| F3 | The reporting person is the managing partner of the managing member of TEP Montana, LLC. As a result, he may be deemed to share beneficial ownership over the securities held by TEP Montana, LLC, but disclaims beneficial ownership of these securities, except to the extent, if any, of his pecuniary interest therein. |
| F4 | Reflects a pro-rata distribution in-kind to its members for no consideration. |
| F5 | Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of June 5, 2023 (the "Merger Agreement"), by and between the Issuer (formerly, Power & Digital Infrastructure Acquisition II Corp.), XPDB Merger Sub, LLC and Montana Technologies LLC ("Legacy Montana"), pursuant to which the common units of Legacy Montana automatically converted into newly issued shares of Class A Common Stock. |
| F6 | On March 14, 2024, the reporting person forfeited at no cost 269,531 shares of Class B common stock in connection with the Business Combination and certain transactions with the Anchor Investors, as described on Form S-4 (File No. 333-273821) under the heading "The Business Combination." |