Kevin J. Kooman - Apr 30, 2023 Form 4 Insider Report for LIMESTONE BANCORP, INC. (LMST)

Role: Director
Signature: /s/ Phil W. Barnhouse, Attorney in Fact for Kevin J. Kooman
Stock symbol: LMST
Transactions as of: Apr 30, 2023
Transactions value $: -$23,450,000
Form type: 4
Date filed: 5/1/2023, 08:27 AM
Previous filing: Jun 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LMST	Common Stock	Other		-337K	-100%		0	Apr 30, 2023	By Limited Partnership	F1, F3

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	LMST	Non-Voting Common Stock	Other	-$23.5M	-1M	-100%	$23.45	0	Apr 30, 2023	Common Stock	1M		By Limited Partnership	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Kevin J. Kooman is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	LMST common stock disposed pursuant to merger agreement between issuer and Peoples Bancorp Inc. in exchange for 302,895 shares of Peoples common stock having a market value of $26.06 per share on the effective date of the merger. Also, at the same time, Peoples non-voting common stock disposed pursuant to same merger agreement in exchange for 900,000 shares of Peoples common stock having a market value of $26.06 per share.
F2	Non-voting common shares contain an automatic conversion feature as follows: Each issued and outstanding Non-Voting Common share shall automatically be converted into one (1) Common share (the "Conversion Rate") upon the transfer of such Non-Voting Common Share (or any security convertible to or exercisable for such Non-Voting Common Share) in (a) a widespread public distribution, including pursuant to a registration statement filed with and declared effective by the SEC or pursuant to Rule 144 under the Securities Act, (b) a transfer in which no transferee (or group of associated transferees) would receive more than 2% of any class of Voting Securities or (c) a transfer to a transferee that controls more than 50% of the Voting Securities without any transfer from the transferor. The foregoing automatic conversion may occur as to some or all of the Non-Voting Common Shares held by any holder.
F3	Shares owned by Patriot Financial Partners III, L.P., Patriot Financial Manager, L.P., and/or Patriot Financial Advisors, L.P.. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest therein.