Thomas Welch - Dec 20, 2022 Form 4 Insider Report for META MATERIALS INC. (MMAT)

Role: 10%+ Owner
Signature: /s/ Thomas Welch
Stock symbol: MMAT
Transactions as of: Dec 20, 2022
Transactions value $: $0
Form type: 4
Date filed: 12/22/2022, 07:55 PM
Previous filing: Dec 9, 2022

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	MMAT	Exchangeable Shares	Gift		-1.35M	-6.85%		18.4M	Dec 20, 2022	Exchangeable Shares	1.35M		Direct	F1
transaction	MMAT	Exchangeable Shares	Gift		+1.35M	+7.93%		18.4M	Dec 20, 2022	Exchangeable Shares	1.35M		By Charity	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each Exchangeable Share, an exchangeable share of Metamaterial Exchangeco Inc., an Ontario corporation, is the economic equivalent of one share of MMAT common stock. Each Exchangeable Share holds a voting interest in Meta Materials Inc. equivalent to a share of common stock of Meta Materials Inc. and will be settled in shares of MMAT common stock upon certain events or at the election of the holder.
F2	On December 20, 2022, the reporting persons made a charitable gift of 1,350,000 Exchangeable Shares to a charity in which the reporting persons hold decision making influence. In the hands of the charity, the reporting persons disclaim beneficial ownership in the gifted Exchangeable Shares, and this report should not be deemed an admission that the reporting persons are the beneficial owners of the charity's shares for purposes of Section 16 or for any other purpose.

Content

Each Exchangeable Share, an exchangeable share of Metamaterial Exchangeco Inc., an Ontario corporation, is the economic equivalent of one share of MMAT common stock. Each Exchangeable Share holds a voting interest in Meta Materials Inc. equivalent to a share of common stock of Meta Materials Inc. and will be settled in shares of MMAT common stock upon certain events or at the election of the holder.

On December 20, 2022, the reporting persons made a charitable gift of 1,350,000 Exchangeable Shares to a charity in which the reporting persons hold decision making influence. In the hands of the charity, the reporting persons disclaim beneficial ownership in the gifted Exchangeable Shares, and this report should not be deemed an admission that the reporting persons are the beneficial owners of the charity's shares for purposes of Section 16 or for any other purpose.