Curtis B. McWilliams - Jun 28, 2022 Form 4 Insider Report for Kalera Public Ltd Co (KALRQ)

Role: Director
Signature: /s/ Austin Martin, under Power of Attorney
Stock symbol: KALRQ
Transactions as of: Jun 28, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/30/2022, 05:25 PM
Previous filing: Jun 29, 2022
Next filing: Jul 8, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KALRQ	Common Stock	Award		+16.7K			16.7K	Jun 28, 2022	Direct	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
transaction	KALRQ	Contingent Value Rights	Award	$0	+92.4K		$0.00	92.4K	Jun 28, 2022	Common Stock	92.4K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the business combination of Agrico Acquisition Corp., Figgreen Limited and Kalera AS ("Legacy Kalera"), each share of Legacy Kalera held by the reporting person was converted into the right to receive a number shares of the Issuer's Common Stock based on the exchange ratio of 0.181 in accordance with the terms of the business combination agreement.
F2	Contractual contingent value rights (each, a "CVR") received pursuant to the terms of the business combination agreement. Each CVR represents a contingent right to receive up to two additional shares of the Issuer, issuable upon the achievement of certain milestones, including: (i) the Issuer shares trading at or over a market price of $12.50; and (ii) the Issuer shares trading at or over a market price of $15.00, in each case, for 20 trading days within a 30 trading-day period, based on volume-weighted average trading prices.

Content

Pursuant to the business combination of Agrico Acquisition Corp., Figgreen Limited and Kalera AS ("Legacy Kalera"), each share of Legacy Kalera held by the reporting person was converted into the right to receive a number shares of the Issuer's Common Stock based on the exchange ratio of 0.181 in accordance with the terms of the business combination agreement.

Contractual contingent value rights (each, a "CVR") received pursuant to the terms of the business combination agreement. Each CVR represents a contingent right to receive up to two additional shares of the Issuer, issuable upon the achievement of certain milestones, including: (i) the Issuer shares trading at or over a market price of $12.50; and (ii) the Issuer shares trading at or over a market price of $15.00, in each case, for 20 trading days within a 30 trading-day period, based on volume-weighted average trading prices.