Paula Tuffin - Nov 7, 2023 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Signature
/s/ Max Goodman, Attorney-in-Fact
Stock symbol
BETR
Transactions as of
Nov 7, 2023
Transactions value $
-$228,027
Form type
4
Date filed
2/5/2024, 05:52 PM
Previous filing
Nov 3, 2023
Next filing
Dec 1, 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 +130K $0.00 130K Feb 1, 2024 Direct
transaction BETR Class A Common Stock Tax liability -$29K -46.7K -36.05% $0.62 82.9K Feb 1, 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 -$158K -357K -28.12% $0.44 912K Nov 7, 2023 Class A Common Stock 357K Direct F1, F2
transaction BETR Class B Common Stock Tax liability -$5.86K -13.2K -1.45% $0.44 898K Nov 7, 2023 Class A Common Stock 13.2K Direct F1, F2
transaction BETR Class B Common Stock Award $0 +17.4K +1.94% $0.00 916K Nov 20, 2023 Class A Common Stock 17.4K Direct F1, F3
transaction BETR Class B Common Stock Tax liability -$4.74K -11.5K -1.25% $0.41 904K Nov 20, 2023 Class A Common Stock 11.5K Direct F1, F2
transaction BETR Class B Common Stock Tax liability -$4.74K -11.5K -1.27% $0.41 893K Nov 20, 2023 Class A Common Stock 11.5K Direct F1, F2
transaction BETR Class B Common Stock Tax liability -$7.37K -16.3K -1.82% $0.45 877K Dec 1, 2023 Class A Common Stock 16.3K Direct F1, F2
transaction BETR Class B Common Stock Tax liability -$10.9K -13.3K -1.52% $0.82 863K Jan 1, 2024 Class A Common Stock 13.3K Direct F1, F2
transaction BETR Class B Common Stock Options Exercise $0 +31.8K +3.69% $0.00 895K Feb 1, 2024 Class A Common Stock 31.8K Direct F1, F4
transaction BETR Class B Common Stock Tax liability -$7.12K -11.5K -1.28% $0.62 884K Feb 1, 2024 Class A Common Stock 11.5K Direct F1
transaction BETR Restricted Stock Units (Class B) Options Exercise $0 -31.8K -5.26% $0.00 573K Feb 1, 2024 Class B Common Stock 31.8K Direct F4, F6
transaction BETR Restricted Stock Units (Class A) Award $0 +130K $0.00 130K Feb 1, 2024 Class A Common Stock 130K Direct F7, F8
transaction BETR Restricted Stock Units (Class A) Options Exercise $0 -130K -100% $0.00* 0 Feb 1, 2024 Class A Common Stock 130K Direct F7, F8
holding BETR Class B Common Stock 822K Nov 7, 2023 Class A Common Stock 822K 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.