Riaz Valani - Mar 5, 2024 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Signature
/s/ Riaz Valani, individually, and as Authorized Person of 1/0 Mortgage Investment, LLC, and as Manager of Better Portfolio Holdings 1 LLC
Stock symbol
BETR
Transactions as of
Mar 5, 2024
Transactions value $
$0
Form type
4
Date filed
3/26/2024, 08:51 PM
Previous filing
Aug 24, 2023
Next filing
Jun 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BETR Class A Common Stock Conversion of derivative security +25.7M 25.7M Mar 5, 2024 By 1/0 Mortgage Investment, LLC F1, F2

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 BETR Class B Common Stock Conversion of derivative security $0 -25.7M -100% $0.00* 0 Mar 5, 2024 Class A Common Stock 25.7M By 1/0 Mortgage Investment, LLC F1, F2
holding BETR Class B Common Stock 27.1M Mar 5, 2024 Class A Common Stock 27.1M By Better Portfolio Holdings 1 LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock in connection with: (i) any transfer, whether or not for value, except for certain permitted transfers described in the Issuer's amended and restated certificate of incorporation, (ii) such time as the aggregate number of shares of Class B Common Stock outstanding ceases to represent 5% of the aggregate number of shares of Common Stock outstanding, (iii) the vote of 85% of the holders of Class B Common Stock outstanding; and (iv) following the date of the death or permanent disability of Better Holdco's founder.
F2 Riaz Valani is the beneficiary of family trusts that own (i) Addison Investment Holdings LLC, which has a controlling interest in 1/0 Mortgage Investment, LLC, and (ii) Better Portfolio Holdings 1 LLC. Mr. Valani is the manager of 1/0 Services LLC, which in turn is the manager of 1/0 Mortgage Investment, LLC, and Better Portfolio Holdings 1 LLC. Therefore, Mr. Valani may be deemed the beneficial owner of the shares held by these entities. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.