William E. Fischer III - Jun 1, 2024 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Role
Chief Accounting Officer
Signature
/s/ William Langston, Attorney-in-Fact
Stock symbol
BETR
Transactions as of
Jun 1, 2024
Transactions value $
-$2,909
Form type
4
Date filed
6/4/2024, 05:40 PM
Previous filing
May 10, 2024
Next filing
Sep 4, 2024

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 +30.8K +37.82% $0.00 112K Jun 1, 2024 Class A Common Stock 30.8K Direct F1, F2
transaction BETR Class B Common Stock Tax liability -$2.91K -8.81K -7.85% $0.33 103K Jun 1, 2024 Class A Common Stock 8.81K Direct F1
transaction BETR Restricted Stock Units (Class B) Options Exercise $0 -30.8K -8.33% $0.00 339K Jun 1, 2024 Class B Common Stock 30.8K 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's founder.
F2 Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class B Common Stock.
F3 492,991 RSUs were granted on March 1, 2023. 25% of the RSUs (123,247) vested on the one year anniversary of the grant date (March 1, 2024). The remaining balance of the RSUs will vest in equal quarterly installments from June 1, 2024 to March 1, 2027, subject to the Reporting Person's continued employment on each such scheduled vesting date.