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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Units | (1) | 07/16/2020 | C | 150,000 (2) | (1) | (5) | Class A Common Stock | 132,000 | $ 0 (1) | 21,458,671 | D | ||||
Common Units | (1) | 09/18/2020 | C | 235,000 (3) | (1) | (5) | Class A Common Stock | 235,000 | $ 0 (1) | 21,223,671 | D | ||||
Common Units | (1) | 01/06/2021 | C | 650,000 (4) | (1) | (5) | Class A Common Stock | 650,000 | $ 0 (1) | 20,573,671 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Jacoby & Co. Inc. C/O GREENLANE HOLDINGS, INC. 1095 BROKEN SOUND PARKWAY, SUITE 300 BOCA RATON, FL 33487 |
X |
/s/ Aaron LoCascio | 01/08/2021 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Pursuant to the Third Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operting Company (the "Common Units") are redeemable on a one-for-one basis for shares of Class A Common Stock of the Issuer, or, at the election of the Issuer, cash equal to a volume weighted average market price of a share of Class A Common Stock. Upon any redemption of Common Units, three shares of Class C Common Stock are automatically forfeited and cancelled for each Common Unit so redeemed. |
(2) | On July 16, 2020, the Reporting Person redeemed a total of 150,000 Comon Units for shares of Class A Common Stock, which were distributed to the shareholders of the Reporting Person. 450,000 shares of Class C Common Stock were subsequently cancelled. |
(3) | On September 18, 2020, the Reporting Person redeemed a total of 235,000 Common Units for shares of Class A Common Stock, which were distributed to the shareholders of the Reporting Person. 705,000 shares of Class C Common Stock were subsequently cancelled. |
(4) | On January 6, 2021, the Reporting Person redeemed a total of 650,000 Common Units for shares of Class A Common Stock, which were distributed to the shareholders of the Reporting Person. 1,950,000 shares of Class C Common Stock were subsequently cancelled. |
(5) | The Common Units have no expiration date. |