Michael Cunningham - Aug 7, 2024 Form 3 Insider Report for Greenbacker Renewable Energy Co LLC (N/A)

Signature
/s/ Michael Cunningham
Stock symbol
N/A
Transactions as of
Aug 7, 2024
Transactions value $
$0
Form type
3
Date filed
8/22/2024, 04:20 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding N/A Class P-I Common Shares 32.4K Aug 7, 2024 Direct
holding N/A Class EO Common Shares 43.2K Aug 7, 2024 Direct F1, F2

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
holding N/A Restricted Share Units (Time) Aug 7, 2024 Class P-I Common Shares 21.1K Direct F3, F4, F5
holding N/A Restricted Share Units (Performance) Aug 7, 2024 Class P-I Common Shares 9.51K Direct F3, F5, F6
holding N/A Restricted Share Units (Time) Aug 7, 2024 Class P-I Common Shares 19.3K Direct F3, F5, F7
holding N/A Restricted Share Units (Performance) Aug 7, 2024 Class P-I Common Shares 9.67K Direct F3, F5, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares of Class EO Common Shares ("Earnout Shares") issued to the Reporting Person on May 19, 2022 in his capacity as a member of Greenbacker Group LLC and July 8, 2022 in his capacity as a member of GB EO Holder LLC, in connection with the Acquisition. The Earnout Shares initially do not have the right to participate in any distributions payable by Greenbacker Renewable Energy Company LLC (the "Company"). Upon the achievement of separate bench-mark quarter-end-run-rate revenue targets, or upon the occurrence of certain liquidity events, however, these Earnout Shares can become "Participating Earnout Shares" and become entitled to priority allocation of profits and increases in value from the Company and will have equivalent economic and voting rights as Class P-I Common Shares, as further described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 23, 2022.
F2 Reflects 4,423.582 Earnout Shares that have become "Participating Earnout Shares."
F3 The Company granted these restricted share units to the Reporting Person pursuant to the Company's 2023 Equity Incentive Plan.
F4 The restricted share units vest in two equal annual installments on each anniversary of May 23, 2024. Vested restricted share units will be settled as soon as reasonably practicable following such vesting.
F5 Each restricted share unit represents a contingent right to receive an amount equal to one Class P-I Common Share in (w) cash, (x) common shares (y) other securities or other property, as applicable, or (z) any combination thereof, as determined by the Company.
F6 The restricted share units vest on the satisfaction of certain performance criteria during the performance period beginning on May 23, 2023, and ending on May 23, 2026, with a vesting date of August 9, 2027. Vested restricted share units will be settled as soon as reasonably practicable following such vesting.
F7 The restricted share units vest in three equal annual installments on each anniversary of July 1, 2024. Vested restricted share units will be settled as soon as reasonably practicable following such vesting
F8 The restricted share units vest on the satisfaction of certain performance criteria during the performance period beginning on July 1, 2024, and ending on July 1, 2027, with a vesting date of July 1, 2028. Vested restricted share units will be settled as soon as reasonably practicable following such vesting.

Remarks:

Vice President - Controller (Principal Accounting Officer).