Stanley Blend - 24 Dec 2024 Form 4 Insider Report for System1, Inc. (SST)

Role
10%+ Owner
Signature
/s/ Daniel Weinrot, Attorney--in-Fact for Stanley Blend
Issuer symbol
SST
Transactions as of
24 Dec 2024
Net transactions value
$0
Form type
4
Filing time
27 Dec 2024, 19:58:53 UTC
Previous filing
14 Aug 2024
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 Conversion of derivative security +2,500,000 2,500,000 24 Dec 2024 Trust (Lone Star Friends Trust) 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
transaction SST Class B Units Conversion of derivative security -2,500,000 -36% 4,475,103 24 Dec 2024 Class A Common Stock 2,500,000 Trust (Lone Star Friends Trust) F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Seventh Amended and Restated Limited Liability Company Operating Agreement of S1 Holdco, the Class B Units are redeemable (in connection with the surrender and forfeiture of the corresponding shares of Class C common stock) on a one-for-one basis for shares of the Company's Class A common stock, or, at the election of the Company, cash equal to the volume weighted average market price of a share of Class A Common Stock at the time of such redemption.