Form 4 for SHLS Shoals Technologies Group, Inc.

Accepted 2021-12-09 00:00:00 ET · period of report 2021-12-07 · accession 0000899243-21-047672 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2021-12-09	2021-12-07	SHLS	Garton Philip A	CFO	C - Cnv Deriv	—	+210.0K	222.2K	+1,715%	—
DI	2021-12-09	2021-12-07	SHLS	Garton Philip A	CFO	C - Cnv Deriv	—	-210.0K	639.7K	-25%	—
DI	2021-12-09	2021-12-07	SHLS	Garton Philip A	CFO	C - Cnv Deriv	—	-210.0K	639.7K	-25%	—

Purchase Sale Sale after option exercise All abbreviations

Every reported transaction

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Class A Common Stock	2021-12-07	C	A	210,000	—	222,244	D	—	—	(F2) In connection with the expiration of the post-IPO related lockup, the Reporting Persons converted 210,000 Common Units (together with a corresponding number of shares of the Issuer's Class B Common Stock) into an equivalent number of shares of the Issuer's Class A Common Stock. (F1) Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Shoals Parent LLC ("Parent"), the Reporting Person, who holds the reported securities indirectly through Parent, may, subject to certain exceptions, from time to time at his option, require Parent to redeem all or a portion of her Parent common units ("Common Units") (together with an equal number of shares of the Issuer's Class B Common Stock which are forfeited for no consideration) in exchange for, at the Issuer's election (determined solely by a majority of the Issuer's directors who are disinterested), newly issued shares of the Issuer's Class A Common Stock on a one-for-one basis or a cash payment equal to a volume-weighted average market price of one share of Class A Common Stock for each Common Unit so redeemed.
2	Common	Class B Common Stock	2021-12-07	C	D	210,000	—	639,707	I See footnote	—	—	(F2) In connection with the expiration of the post-IPO related lockup, the Reporting Persons converted 210,000 Common Units (together with a corresponding number of shares of the Issuer's Class B Common Stock) into an equivalent number of shares of the Issuer's Class A Common Stock. (F1) Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Shoals Parent LLC ("Parent"), the Reporting Person, who holds the reported securities indirectly through Parent, may, subject to certain exceptions, from time to time at his option, require Parent to redeem all or a portion of her Parent common units ("Common Units") (together with an equal number of shares of the Issuer's Class B Common Stock which are forfeited for no consideration) in exchange for, at the Issuer's election (determined solely by a majority of the Issuer's directors who are disinterested), newly issued shares of the Issuer's Class A Common Stock on a one-for-one basis or a cash payment equal to a volume-weighted average market price of one share of Class A Common Stock for each Common Unit so redeemed.
3	Derivative	Common Units	2021-12-07	C	D	210,000	—	639,707	I See footnote	— · — to —	210,000 Class A Common Stock	(F2) In connection with the expiration of the post-IPO related lockup, the Reporting Persons converted 210,000 Common Units (together with a corresponding number of shares of the Issuer's Class B Common Stock) into an equivalent number of shares of the Issuer's Class A Common Stock. (F1) Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Shoals Parent LLC ("Parent"), the Reporting Person, who holds the reported securities indirectly through Parent, may, subject to certain exceptions, from time to time at his option, require Parent to redeem all or a portion of her Parent common units ("Common Units") (together with an equal number of shares of the Issuer's Class B Common Stock which are forfeited for no consideration) in exchange for, at the Issuer's election (determined solely by a majority of the Issuer's directors who are disinterested), newly issued shares of the Issuer's Class A Common Stock on a one-for-one basis or a cash payment equal to a volume-weighted average market price of one share of Class A Common Stock for each Common Unit so redeemed.