Matthew Potere - Dec 31, 2022 Form 4 Insider Report for Sunlight Financial Holdings Inc. (SUNL)

Role
Chief Executive Officer, Director
Signature
/s/ Lindsay Schall, attorney-in-fact
Stock symbol
SUNL
Transactions as of
Dec 31, 2022
Transactions value $
$0
Form type
4
Date filed
1/3/2023, 03:07 PM
Previous filing
Jun 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SUNL Class A Common Stock Award $0 +457K +47.44% $0.00 1.42M Dec 31, 2022 Direct F1

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 SUNL Private Units 3.51M Dec 31, 2022 Class A Common Stock 2.98M Direct F2
holding SUNL Private Units 3.51M Dec 31, 2022 Class A Common Stock 527K By grantor retained annuity trust(s) F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person received Restricted Stock Units ("RSUs"), which are settled in shares of Class A Common Stock, under the 2021 Equity Incentive Plan of Sunlight Financial Holdings Inc. (the "Company"). The RSUs will vest over a 4-year period in equal installments annually, commencing on February 18, 2023.
F2 The reporting person received these Private Units on July 9, 2021, pursuant to the Business Combination Agreement, dated as of January 23, 2021 by and among Spartan Acquisition Corp. II ("Spartan"), Sunlight Financial LLC ("SFLLC"), and certain of their respective affiliates and subsidiaries. Each Private Unit consists of a Class EX Unit issued by SFLLC, together with one share of Class C Common Stock issued by the Company. Each Private Unit is exchangeable, subject to certain conditions, for either one share of Class A Common Stock, or at SFLLC's election, an amount of cash equivalent to the market value of one share of Class A Common Stock, pursuant to and in accordance with the terms of the Fifth Amended and Restated Limited Liability Company Agreement of SFLCC. The Class C Common Stock will vote together with the Class A Common Stock as a single class, but will have no economic rights. These exchange rights do not expire.
F3 The reporting person disclaims beneficial ownership, except to the extent of his pecuniary interest therein.