Todd Krasnow - Dec 14, 2023 Form 4 Insider Report for Symbotic Inc. (SYM)

Role
Director
Signature
/s/ Corey Dufresne, Attorney-in-Fact for Todd Krasnow
Stock symbol
SYM
Transactions as of
Dec 14, 2023
Transactions value $
-$208,748
Form type
4
Date filed
12/15/2023, 05:29 PM
Previous filing
Nov 28, 2023
Next filing
Jan 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SYM Class V-1 Common Stock Other -4K -0.99% 402K Dec 14, 2023 Direct F1, F2, F3
transaction SYM Class A Common Stock Other +4K 4K Dec 14, 2023 Direct F1, F2, F3
transaction SYM Class A Common Stock Sale -$10.3K -200 -5% $51.59 3.8K Dec 14, 2023 Direct F4
transaction SYM Class A Common Stock Sale -$198K -3.8K -100% $52.22 0 Dec 14, 2023 Direct F4, F5
holding SYM Class V-1 Common Stock 728K Dec 14, 2023 By Inlet View, Inc. F6
holding SYM Class A Common Stock 50K Dec 14, 2023 By Trust F7

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 SYM Symbotic Holdings Units Other -4K -0.99% 402K Dec 14, 2023 Class A Common Stock 4K Direct F1, F2, F3
holding SYM Symbotic Holdings Units 728K Dec 14, 2023 Class A Common Stock 728K By Inlet View, Inc. F1, F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares of Class V-1 Common Stock of the Issuer have no economic rights and each share of Class V-1 Common Stock entitles its holder to 1 vote per share.
F2 The term "Symbotic Holdings Units" is used herein to represent limited liability company units of Symbotic Holdings LLC ("Symbotic Holdings") and an equal number of paired shares of Class V-1 Common Stock of the Issuer, which, pursuant to the limited liability company agreement of Symbotic Holdings, are redeemable by the holder on a one-for-one basis for a share of Class A Common Stock of the Issuer, subject to conversion rate adjustments for stock splits, stock dividends, reclassification and other similar transactions, and in accordance with other terms and conditions set forth in Symbotic Holdings' Second Amended and Restated Limited Liability Company Agreement, dated as of June 7, 2022. Upon redemption, the Issuer will cancel the Symbotic Holdings Units and cancel and retire for no consideration the redeemed shares of Class V-1 Common Stock.
F3 On December 14, 2023, the Reporting Person sold 4,000 shares of Class A Common Stock pursuant to a trading plan entered into by the reporting person on August 25, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Stock Sale"). In connection with the Stock Sale and pursuant to the terms of the trading plan, effective December 14, 2023, the Reporting Person redeemed 4,000 Symbotic Holdings Units in exchange for an equal number of shares of Class A Common Stock (the "Redemption"). In connection with the Redemption, Symbotic Holdings cancelled the Symbotic Holdings Units and the Issuer cancelled and retired for no consideration the redeemed 4,000 shares of Class V-1 Common Stock.
F4 This transaction was executed pursuant to a trading plan entered into by the reporting person on August 25, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F5 In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $51.80 to $52.70, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 Todd Krasnow may be considered the beneficial owner of securities held by Inlet View, Inc., of which Mr. Krasnow is the President and CEO. Mr. Krasnow disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F7 Todd Krasnow may be considered the beneficial owner of 25,000 shares of Class A Common Stock held by the Krasnow Family 2019 Charitable Remainder Trust and 25,000 shares of Class A Common Stock held by the Todd and Deborah Krasnow CRUT, both of which are trusts for which Mr. Krasnow is trustee and to which Mr. Krasnow is a beneficiary. Mr. Krasnow disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.