5AK, LLC - 28 Sep 2022 Form 4 Insider Report for SHF Holdings, Inc. (SHFS)

Role
10%+ Owner
Signature
John Darwin
Issuer symbol
SHFS
Transactions as of
28 Sep 2022
Net transactions value
$0
Form type
4
Filing time
30 Sep 2022, 21:43:56 UTC
Previous filing
23 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHFS Class A common stock Conversion of derivative security +2,835,000 +537% 3,363,175 28 Sep 2022 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
transaction SHFS Class B common stock Conversion of derivative security -2,835,000 -100% 0 28 Sep 2022 Class A common stock 2,835,000 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the Issuer's registration statement on Form S-1 (File No. 333-256701), under the heading "Description of Securities," the 2,835,000 shares of the Issuer's Class B Common Stock held by the Reporting Person converted into shares of the Issuer's Class A Common Stock on a one-for-one basis upon consummation of the Issuer's initial business combination.
F2 This Form 3 is being filed by 5AK, LLC, the sponsor of the issuer (the "Sponsor"). John Darwin and Joshua Mann, the issuer's directors, are each a control person of the member and manager of the Sponsor, Luminous Capital Inc. Each of Messrs. Darwin and Mann may be deemed to beneficially own shares held by the Sponsor by virtue of each individual's control over the Sponsor. Messrs. Darwin and Mann each disclaims beneficial ownership of the shares of the issuer's Class B common stock held by the Sponsor, except to the extent of his respective pecuniary interest