Slta IV (Gp), L.L.C. - May 22, 2024 Form 4 Insider Report for N-able, Inc. (NABL)

Signature
By: /s/ Andrew J. Schader; Andrew J. Schader, Managing Director and General Counsel of Silver Lake Group, L.L.C.
Stock symbol
NABL
Transactions as of
May 22, 2024
Transactions value $
$0
Form type
4
Date filed
5/24/2024, 04:30 PM
Previous filing
Apr 24, 2024
Next filing
May 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NABL Common Stock Award $0 +28.5K +16.42% $0.00 202K May 22, 2024 See footnote F1, F2
holding NABL Common Stock 43.3M May 22, 2024 Held through Silver Lake Partners IV, L.P. F3, F7
holding NABL Common Stock 712K May 22, 2024 Held through Silver Lake Technology Investors IV, L.P. F4, F7
holding NABL Common Stock 17.3M May 22, 2024 Held through SLP Aurora Co-Invest, L.P. F5, F7
holding NABL Common Stock 99.8K May 22, 2024 Held through Silver Lake Technology Associates IV L.P. F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units awarded to each of Michael J. Bingle and Michael Widmann, directors of the Issuer and executives of Silver Lake Group, L.L.C. ("SLG") as part of the Issuer's non-employee director compensation program. The restricted stock units vest in full on the day immediately preceding the Issuer's next annual meeting of stockholders following the grant date, subject to the director's continued service through such date.
F2 Includes restricted stock units described in footnote (1) above and shares of common stock held by Kenneth Y. Hao, Michael J. Bingle, Michael Widmann and Jason White, executives of SLG, who were awarded shares of common stock of SolarWinds Corporation ("SolarWinds"), as part of SolarWinds's non-employee director compensation policy, and as a result of the spin-off of the Issuer from SolarWinds, received shares of common stock of the Issuer. Such shares of common stock of the Issuer are held for the benefit of one or more of the Reporting Persons and/or certain of their affiliates or certain of the funds they manage ("Silver Lake"). Pursuant to Silver Lake's policies with respect to director compensation, upon the sale of these securities, the proceeds from each sale will be expected to be remitted to Silver Lake and/or its limited partners.
F3 These securities are directly held by SLP IV. The general partner of SLP IV is Silver Lake Technology Associates IV, L.P. ("SLTA IV"), and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").
F4 These securities are directly held by SLTI IV. The general partner of SLTI IV is SLTA IV, and the general partner of SLTA IV is SLTA IV GP.
F5 These securities are directly held by SLP Aurora. The general partner of SLP Aurora is SLP Denali Co-Invest GP, L.L.C. ("SLP Denali GP"). The managing member of SLP Denali GP is Silver Lake Technology Associates III, L.P. ("SLTA III"), and the general partner of SLTA III is SLTA III (GP), L.L.C. ("SLTA III GP").
F6 These securities are directly held by Silver Lake Technology Associates IV, L.P. ("SLTA IV"), which expects at a future date to further distribute such shares to certain direct and indirect partners of SLTA IV, for the sole purpose of charitable giving.
F7 SLG is the managing member of SLTA III GP and SLTA IV GP. Messrs. Michael J. Bingle and Michael Widmann serve as directors of the Issuer and are executives of SLG. Each of SLP IV, SLTI IV, SLTA IV, SLTA IV GP, SLP Aurora, SLP Denali GP, SLTA III, SLTA III GP and SLG may be deemed to be a director by deputization of the Issuer. This filing shall not be deemed an admission that for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, that the Reporting Persons are the beneficial owners of any equity securities in excess of their respective pecuniary interests, and each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, if any.