Harish Chidambaran - 16 Apr 2024 Form 4 Insider Report for Arrowroot Acquisition Corp. (AILEQ)

Role
CEO, Director, 10%+ Owner
Signature
By /s/ David Samuels, Attorney-in-Fact
Issuer symbol
AILEQ
Transactions as of
16 Apr 2024
Net transactions value
$0
Form type
4
Filing time
18 Apr 2024, 21:38:14 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AILE Common Stock Award +77,964,895 77,964,895 16 Apr 2024 Direct F1, F2, F3
transaction AILE Common Stock Award +18,799,432 18,799,432 16 Apr 2024 By Spouse F1, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received pursuant to the Agreement and Plan of Merger and Reorganization, dated as of April 27, 2023, by and among the Issuer, ARAC Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and iLearningEngines Holdings, Inc. ("Legacy iLearningEngines"), whereby Merger Sub merged with and into Legacy iLearningEngines with the separate corporate existence of Merger Sub ceasing and Legacy iLearningEngines continuing as the surviving corporation and a wholly-owned subsidiary of Issuer (the "Merger").
F2 Includes 27,590,898 shares of restricted stock which vest in 10 equal annual installments beginning on April 16, 2025. Under the terms of the relevant restricted stock purchase agreement, the relevant reported shares of restricted stock may not be transferred without the consent of the Issuer and are subject to a repurchase right in favor of the Issuer.
F3 Received in exchange for 62,487,282 shares of Common Stock and 34,225,600 shares of Restricted Common Stock of Legacy iLearningEngines in connection with the Merger (as described in footnote 1).
F4 Includes 4,561,014 shares of restricted stock which vest in 10 equal annual installments beginning on April 16, 2025. Under the terms of the relevant restricted stock purchase agreement, the relevant reported shares of restricted stock may not be transferred without the consent of the Issuer and are subject to a repurchase right in favor of the Issuer.
F5 Received in exchange for 17,662,288 shares of Common Stock and 5,657,788 shares of Restricted Common Stock of Legacy iLearningEngines in connection with the Merger (as described in footnote 1).
F6 The securities are held by the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.