Marc H. Bell - Mar 25, 2022 Form 3 Insider Report for Terran Orbital Corp (LLAP)

Role
Co-Founder, Chairman and Chief Executive Officer Exhibit List: See Exhibit 24.1 - Power of Attorney, Director
Signature
/s/ Marc H. Bell
Stock symbol
LLAP
Transactions as of
Mar 25, 2022
Transactions value $
$0
Form type
3
Date filed
4/4/2022, 10:00 PM
Previous filing
Feb 25, 2022
Next filing
May 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LLAP Common stock, par value $0.0001 per share 11.5M Mar 25, 2022 Direct
holding LLAP Common stock, par value $0.0001 per share 71K Mar 25, 2022 Terran Orbital Management Investors LLC 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
holding LLAP Restricted Stock Units Mar 25, 2022 Common Stock 1.93M Direct F2, F3
holding LLAP $11 Retention Restricted Stock Units Mar 25, 2022 Common Stock 176K Direct F4
holding LLAP $13 Retention Restricted Stock Units Mar 25, 2022 Common Stock 149K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reporting Person's proportionate number of shares held through Terran Orbital Management Investors LLC, an investment vehicle over which the Reporting Person shares voting and dispositive power.
F2 The restricted stock units vest in two equal annual installments on the anniversary of the vesting start date. Vesting start date is March 15, 2021.
F3 Each restricted stock unit represents a contingent right to receive one share of LLAP common stock subject to a time-based vesting condition described herein and a Liquidity Event vesting condition. The Liquidity Event vesting condition was satisfied on March 25, 2022 upon the closing of LLAP's business combination.
F4 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying two remaining conditions: (i) Reporting Person must be in continuous employment with the Issuer or its subsidiaries for one year starting on March 25, 2022 and (ii) the market price of LLAP common stock being at or greater than $11/share in 20 out of 30 trading days during a five year period starting March 25, 2022.
F5 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying two remaining conditions: (i) Reporting Person must be in continuous employment with the Issuer or its subsidiaries for one year starting on March 25, 2022 and (ii) the market price of LLAP common stock being at or greater than $13/share in 20 out of 30 trading days during a five year period starting March 25, 2022.

Remarks:

Co-Founder, Chairman and Chief Executive Officer Exhibit List: See Exhibit 24.1 - Power of Attorney