Joshua Mann - Sep 28, 2022 Form 4 Insider Report for SHF Holdings, Inc. (SHFS)

Role: Director
Signature: Joshua Mann
Stock symbol: SHFS
Transactions as of: Sep 28, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/30/2022, 09:58 PM
Previous filing: Jun 23, 2021

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		+2.84M	+536.75%		3.36M	Sep 28, 2022	Indirect	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		-2.84M	-100%		0	Sep 28, 2022	Class A common stock	2.84M		indirect	F1, F2

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	The securities are held directly by 5AK, LLC, the sponsor of the Issuer (the "Sponsor"). The reporting person is a control person of the manager of the Sponsor, Luminous Capital Inc., and may be deemed to beneficially own shares held by the Sponsor by virtue of his control over the Sponsor. The reporting person disclaims beneficial ownership of the shares of the Issuer's Class A Common Stock held by the Sponsor, except to the extent of his pecuniary interest.

Content

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.

The securities are held directly by 5AK, LLC, the sponsor of the Issuer (the "Sponsor"). The reporting person is a control person of the manager of the Sponsor, Luminous Capital Inc., and may be deemed to beneficially own shares held by the Sponsor by virtue of his control over the Sponsor. The reporting person disclaims beneficial ownership of the shares of the Issuer's Class A Common Stock held by the Sponsor, except to the extent of his pecuniary interest.