Kevin J. Ryan - 01 Dec 2023 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Role: Chief Financial Officer
Signature: /s/ Max Goodman, Attorney-in-Fact
Issuer symbol: BETR
Transactions as of: 01 Dec 2023
Net transactions value: $0
Form type: 4
Filing time: 01 Dec 2023, 21:55:29 UTC
Previous filing: 06 Feb 2024
Next filing: 05 Mar 2024
SEC: View on sec.gov

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	BETR	Class B Common Stock	Options Exercise	$0	+14,326	+2%	$0.000000	726,799	01 Dec 2023	Class A Common Stock	14,326		Direct	F1, F2
transaction	BETR	Restricted Stock Units	Options Exercise	$0	-14,326	-10%	$0.000000	128,952	01 Dec 2023	Class B Common Stock	14,326		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock in connection with: (i) any transfer, whether or not for value, except for certain permitted transfers described in the Issuer's amended and restated certificate of incorporation, (ii) such time as the aggregate number of shares of Class B Common Stock outstanding ceases to represent 5% of the aggregate number of shares of Common Stock outstanding, (iii) the vote of 85% of the holders of Class B Common Stock outstanding; and (iv) following the date of the death or permanent disability of Better HoldCo, Inc.'s founder.
F2	Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class B Common Stock.
F3	The restricted stock units were granted on March 1, 2022 and will vest subject to both time- and liquidity-based criteria. Under the time-based criteria, 14/48ths of the restricted stock units became vested on the grant date and the remaining restricted stock units will vest in equal 1/48ths of the restricted stock units on the first business day of each month such that the restricted stock units will be fully vested as of July 1, 2025. The liquidity-based criteria was satisfied on August 22, 2023 upon the consummation of the business combination between the Issuer (f/k/a Aurora Acquisition Corp), Aurora Merger Sub I, Inc. and Better HoldCo, Inc.