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

Reporting relationship: 10%+ Owner
Issuer ticker: SST
Reported as of: 17 Jun 2024
Net transaction value: -$7,162,500
SEC form: 4/A
Accepted by SEC: 26 Jun 2024, 21:30:43 UTC
Original report date: 21 Jun 2024
Prior SEC filing: 09 Dec 2022
Source filing: View source filing
Reporting owner signature: /s/ Daniel Weinrot, Attoney-in-Fact for Lone Star Friends Trust

Key filing fact

Lone Star Friends Trust filed Form 4/A for System1, Inc. (SST) on 26 Jun 2024.

Key facts

This page summarizes Lone Star Friends Trust's Form 4/A filing for System1, Inc. (SST).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 26 Jun 2024, 21:30.

Change

Previous filing in this sequence was filed on 09 Dec 2022.
Current net transaction value: -$7,162,500.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4/A disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SST transaction

Class A Common Stock

Sale

Transaction value: $7,162,500
Shares: -4,775,000
Change %: -72%
Price: $1.50
Shares after: 1,850,215
Date: 17 Jun 2024
Ownership: Trust (Lone Star Friends Trust)
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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.

Footnote F3

Mr. Stanley Blend is the Trustee of Lone Star Friends Trust.

SEC 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.