Paula Tuffin - 07 Nov 2023 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Signature
/s/ Max Goodman, Attorney-in-Fact
Issuer symbol
BETR
Transactions as of
07 Nov 2023
Net transactions value
-$228,027
Form type
4
Filing time
05 Feb 2024, 17:52:29 UTC
Previous filing
03 Nov 2023
Next filing
01 Dec 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BETR Class A Common Stock Options Exercise $0 +129,600 $0.000000 129,600 01 Feb 2024 Direct
transaction BETR Class A Common Stock Tax liability $28,968 -46,723 -36% $0.6200 82,877 01 Feb 2024 Direct

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 Tax liability $158,376 -356,703 -28% $0.4440 911,640 07 Nov 2023 Class A Common Stock 356,703 Direct F1, F2
transaction BETR Class B Common Stock Tax liability $5,861 -13,200 -1.4% $0.4440 898,440 07 Nov 2023 Class A Common Stock 13,200 Direct F1, F2
transaction BETR Class B Common Stock Award $0 +17,440 +1.9% $0.000000 915,880 20 Nov 2023 Class A Common Stock 17,440 Direct F1, F3
transaction BETR Class B Common Stock Tax liability $4,742 -11,481 -1.3% $0.4130 904,399 20 Nov 2023 Class A Common Stock 11,481 Direct F1, F2
transaction BETR Class B Common Stock Tax liability $4,742 -11,481 -1.3% $0.4130 892,918 20 Nov 2023 Class A Common Stock 11,481 Direct F1, F2
transaction BETR Class B Common Stock Tax liability $7,365 -16,255 -1.8% $0.4531 876,663 01 Dec 2023 Class A Common Stock 16,255 Direct F1, F2
transaction BETR Class B Common Stock Tax liability $10,855 -13,287 -1.5% $0.8170 863,376 01 Jan 2024 Class A Common Stock 13,287 Direct F1, F2
transaction BETR Class B Common Stock Options Exercise $0 +31,837 +3.7% $0.000000 895,213 01 Feb 2024 Class A Common Stock 31,837 Direct F1, F4
transaction BETR Class B Common Stock Tax liability $7,118 -11,481 -1.3% $0.6200 883,732 01 Feb 2024 Class A Common Stock 11,481 Direct F1
transaction BETR Restricted Stock Units (Class B) Options Exercise $0 -31,837 -5.3% $0.000000 573,167 01 Feb 2024 Class B Common Stock 31,837 Direct F4, F6
transaction BETR Restricted Stock Units (Class A) Award $0 +129,600 $0.000000 129,600 01 Feb 2024 Class A Common Stock 129,600 Direct F7, F8
transaction BETR Restricted Stock Units (Class A) Options Exercise $0 -129,600 -100% $0.000000* 0 01 Feb 2024 Class A Common Stock 129,600 Direct F7, F8
holding BETR Class B Common Stock 822,125 07 Nov 2023 Class A Common Stock 822,125 By Technology Stock Holding Master Trust/Series Tuffin 2021 Trust F1, F5
* 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 Consists of shares of Class B Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of previously granted and reported restricted stock units representing the right to receive one share of Class B Common Stock, which were inadvertently omitted in prior Form 4 filings between August 24, 2023 and January 2, 2024.
F3 Reflects shares of Class B Common Stock issued to the Reporting Person as a correction for the number of shares withheld for tax purposes in connection with the August 22, 2023 vesting event.
F4 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class B Common Stock.
F5 The Reporting Person is the controlling party of Technology Stock Holding Master Trust/Series Tuffin 2021 Trust. Therefore, the Reporting Person may be deemed to have voting power and dispositive power over the shares held by Technology Stock Holding Master Trust/Series Tuffin 2021 Trust. The Reporting Person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F6 The restricted stock units were granted on October 1, 2022 and will vest subject to both time- and liquidity-based criteria. Under the time-based criteria, the Reporting Person was vested in 14/48ths of the restricted stock units 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, subject to the Reporting Person's continued employment. 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.
F7 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F8 The restricted stock units were granted and became fully vested on February 1, 2024.