Jorge Avalos - 22 Nov 2024 Form 4 Insider Report for ARC DOCUMENT SOLUTIONS, INC.

Role
Chief Financial Officer
Signature
/s/ Jorge Avalos
Issuer symbol
N/A
Transactions as of
22 Nov 2024
Net transactions value
$0
Form type
4
Filing time
22 Nov 2024, 19:52:37 UTC
Previous filing
14 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARC Common Stock Tax liability $0 -55,000 -9.9% $0.000000 498,347 22 Nov 2024 Direct F1, F2
transaction ARC Common Stock Tax liability $0 -21,965 -4.4% $0.000000 476,382 22 Nov 2024 Direct F1, F2
transaction ARC Common Stock Tax liability $0 -12,834 -2.7% $0.000000 463,548 22 Nov 2024 Direct F1, F2
transaction ARC Common Stock Tax liability $0 -6,417 -1.4% $0.000000 457,131 22 Nov 2024 Direct F1, F2
transaction ARC Common Stock Other +101,812 +22% 558,943 22 Nov 2024 Direct F1, F3
transaction ARC Common Stock Tax liability $0 -91,706 -16% $0.000000 467,237 22 Nov 2024 Direct F1, F4
transaction ARC Common Stock Other +280,826 +60% 748,063 22 Nov 2024 Direct F1, F3
transaction ARC Common Stock Tax liability $0 -252,578 -34% $0.000000 495,485 22 Nov 2024 Direct F1, F4
transaction ARC Common Stock Other +165,000 +33% 660,485 22 Nov 2024 Direct F1, F3
transaction ARC Common Stock Tax liability $0 -160,851 -24% $0.000000 499,634 22 Nov 2024 Direct F1, F4
transaction ARC Common Stock Other -499,634 -100% 0 22 Nov 2024 Direct F1, F5

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 ARC Employee Stock Option (right to buy) Disposed to Issuer -101,812 -100% 0 22 Nov 2024 Common Stock 101,812 $2.65 Direct F1, F6
transaction ARC Employee Stock Option (right to buy) Disposed to Issuer -65,000 -100% 0 22 Nov 2024 Common Stock 65,000 $3.69 Direct F1, F7
transaction ARC Employee Stock Option (right to buy) Disposed to Issuer -76,048 -100% 0 22 Nov 2024 Common Stock 76,048 $3.69 Direct F1, F7
transaction ARC Employee Stock Option (right to buy) Disposed to Issuer -280,826 -100% 0 22 Nov 2024 Common Stock 280,826 $2.64 Direct F1, F6
transaction ARC Employee Stock Option (right to buy) Disposed to Issuer -165,000 -100% 0 22 Nov 2024 Common Stock 165,000 $3.21 Direct F1, F6
transaction ARC Employee Stock Option (right to buy) Disposed to Issuer -33,000 -100% 0 22 Nov 2024 Common Stock 33,000 $8.89 Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 On November 22, 2024, pursuant to the Agreement and Plan of Merger (as amended, the 'Merger Agreement') dated August 27, 2024, by and among ARC Document Solutions, Inc. (the 'Company') TechPrint Holdings, LLC ('Parent'), TechPrint Merger Sub, Inc. ('Merger Sub'), Merger Sub merged with and into the Company (the 'Merger'), with the Company surviving as the surviving corporation ('Surviving Corporation') in the Merger.
F2 Represents shares of Company common stock ('Shares') disposed of to satisfy applicable tax liabilities on unvested restricted stock which, immediately prior to the effective time of the Merger ('Effective Time'), were cancelled and converted into the right to receive a number of Shares equal to the quotient of (i) the number of unvested Shares covered thereby multiplied by $3.40 (the 'Merger Consideration') in cash without interest thereon, less applicable taxes and authorized deductions, divided by (ii) the Merger Consideration, rounded down to the nearest whole Share.
F3 Represents Shares acquired by the Reporting Person, pursuant to the Merger Agreement, immediately prior to the Effective Time in exchange for cancelled and converted vested and unvested options reported herein.
F4 Represents Shares disposed of to satisfy applicable tax liabilities, pursuant to the Merger Agreement, for the cancellation and conversion, immediately prior to the Effective Time, of vested and unvested options reported herein.
F5 Under the Merger Agreement and Rollover Agreement, dated August 27, 2024 by and between Parent and the Company stockholders listed on Schedule A thereto (as amended, the 'Rollover Agreement'), immediately prior to the Effective Time, each of these Shares was exchanged for a common unit of Parent.
F6 Under the Merger Agreement, immediately prior to the Effective Time, each of these options, whether vested or unvested, was cancelled and converted into the number of Shares equal to the quotient of (i) the product of (a) the amount by which the Merger Consideration exceeds the exercise price per share of such option and (b) the aggregate number of shares issuable upon exercise of such option, less applicable taxes and authorized deductions, divided by (ii) the Merger Consideration, rounded down to the nearest whole share.
F7 Under the Merger Agreement, each of these options, whether vested or unvested, was cancelled without the payment of consideration.