L. Michael Blend - 22 Nov 2023 Form 4 Insider Report for System1, Inc. (SST)

Role
CEO & Chairman, Director
Signature
/s/ Daniel Weinrot, Attorney-in-Fact for Michael Blend
Issuer symbol
SST
Transactions as of
22 Nov 2023
Net transactions value
$0
Form type
4
Filing time
18 Dec 2023, 19:18:56 UTC
Previous filing
22 Apr 2022
Next filing
21 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SST Class A Common Stock Other $0 +1,000,000 +138% $0.000000 1,725,000 22 Nov 2023 Direct F1
transaction SST Class A Common Stock Other $0 -1,000,000 -58% $0.000000 725,000 22 Nov 2023 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Lone Star Friends Trust made a deemed distribution of 1,000,000 shares of Class C common stock (and 1,000,000 corresponding Class B Units of S1 Holdco LLC) to its beneficiaries (which included Mr. Michael Blend, the Issuer's co-founder and CEO, and his spouse). The beneficiaries of the Lone Star Friends Trust immediately made a gift of 500,000 shares of Class C common stock (and 500,000 corresponding Class B Units of S1 Holdco, LLC) to each of the Dante Jacob Blend Trust and the Nola Deflina Blend Trust (which are trusts established for the benefit of the beneficiaries children). The Reporting Person is the Trustee of each of the Lone Star Friends Trust, the Dante Jacob Blend Trust and the Nola Delfina Blend Trust.