Lone Star Friends Trust - 17 Jun 2024 Form 4/A Insider Report for System1, Inc. (SST)

Role
10%+ Owner
Signature
/s/ Daniel Weinrot, Attoney-in-Fact for Lone Star Friends Trust
Issuer symbol
SST
Transactions as of
17 Jun 2024
Net transactions value
-$7,162,500
Form type
4/A
Filing time
26 Jun 2024, 21:30:43 UTC
Date Of Original Report
21 Jun 2024
Previous filing
09 Dec 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SST Class A Common Stock Sale $7,162,500 -4,775,000 -72% $1.50 1,850,215 17 Jun 2024 Trust (Lone Star Friends Trust) F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Lone Star Friends Trust, a trust established for the benefit of Mr. Michael Blend, the Company's Co-Founder, CEO and Chairman of the Board, sold 4,775,000 shares to CEE Holdings Trust, a trust established for the benefit of Mr. Charles Ursini, the Company's Co-Founder, President & Chief Operating Officer, and a member of the Board of Directors, in a privately negotiated arm's length transaction that was not conducted through the exchange on which the Issuer's publicly traded securities are listed.
F2 In connection with the sale reported on this Form 4, the Reporting Person disgorged $930.00 to the Company with respect to 11,613 shares purchased by the Reporting Person in March 2024 pursuant to a 10b5-1 trading plan previously entered into by the Reporting Person.
F3 Mr. Stanley Blend is the Trustee of Lone Star Friends Trust.

Remarks:

This Amendment to the Form 4 for Mr. Blend/Lone Star Friends Trust is being filed to correct the total number of shares beneficially owned by the Reporting Person following the previously reported transaction, as the original Form 4 filed on June 21, 2024 incorrectly indicated that 956,423 shares of Class A common stock were beneficially owned by the Reporting Person following the reported transaction.