Charles R. Schwab - 11 Jun 2025 Form 4 Insider Report for Local Bounti Corporation/DE (LOCL)

Reporting relationship: 10%+ Owner
Issuer ticker: LOCL
Reported as of: 11 Jun 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 13 Jun 2025, 21:22:02 UTC
Prior SEC filing: 27 May 2025
Next SEC filing: 05 Aug 2025
Source filing: View source filing
Reporting owner signature: /s/ Charles R. Schwab

Key filing fact

Charles R. Schwab filed Form 4 for Local Bounti Corporation/DE (LOCL) on 13 Jun 2025.

Key facts

This page summarizes Charles R. Schwab's Form 4 filing for Local Bounti Corporation/DE (LOCL).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 13 Jun 2025, 21:22.

Change

Previous filing in this sequence was filed on 27 May 2025.
Current net transaction value: $0.

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 disclosures.

View source filing

Reporting Owners (1)

CIK 0000923738 Primary reporting owner

Schwab Charles R.

Relationship: 10%+ Owner
Address: C/O LOCAL BOUNTI CORPORATION, 490 FOLEY LANE, HAMILTON
Signature: /s/ Charles R. Schwab
Signature date: 13 Jun 2025

Reported non-derivative transactions

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

LOCL transaction

Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +10,299,277
Change %: +606%
Price: $0.000000
Shares after: 12,000,000
Date: 11 Jun 2025
Ownership: By LLC
Footnotes: F1

LOCL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 271,354
Date: 11 Jun 2025
Ownership: By Trust
Footnotes: F2

LOCL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 10,758
Date: 11 Jun 2025
Ownership: By LLC
Footnotes: F3

LOCL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 858,284
Date: 11 Jun 2025
Ownership: By LLC
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

LOCL transaction Derivative

Series A Convertible Preferred Stock

Conversion of derivative security

Transaction value: $0
Shares: -10,299,277
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 11 Jun 2025
Ownership: By LLC
Underlying class: Common Stock
Underlying amount: 10,299,277
Exercise price
Footnotes: F1, F5

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Shares owned by U.S. Bounti, LLC.

Footnote F2

Shares owned by The Charles & Helen Schwab Living Trust U/A DTD 11/22/1985 (the "Trust") of which the insider and his spouse are trustees and beneficiaries.

Footnote F3

Shares owned by Olive Street Ventures LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.

Footnote F4

Shares owned by Live Oak Ventures, LLC.

Footnote F5

Pursuant to the terms of the Securities Purchase Agreement dated as of March 31, 2025, by and among the Issuer, the Reporting Party and the other parties thereto, the Issuer submitted to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). The Conversion Proposal was approved at the 2025 annual meeting of stockholders and following such approval of the Conversion Proposal, each share of Preferred Stock automatically converted into one share of Common Stock.