Adam Schoenfeld - Jan 5, 2022 Form 4 Insider Report for Greenlane Holdings, Inc. (GNLN)

Role
Chief Marketing Officer, Director, 10%+ Owner
Signature
/s/ Douglas Fischer, as attorney-in-fact for Adam Schoenfeld
Stock symbol
GNLN
Transactions as of
Jan 5, 2022
Transactions value $
$0
Form type
4
Date filed
1/7/2022, 03:13 PM
Previous filing
Jan 4, 2022
Next filing
Feb 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNLN Class B Common Stock Conversion of derivative security $0 -500K -24.72% $0.00 1.52M Jan 5, 2022 Direct F2
transaction GNLN Class A Common Stock Conversion of derivative security $0 +500K +1600.31% $0.00 531K Jan 5, 2022 Direct F2
holding GNLN Class B Common Stock 16M Jan 5, 2022 See footnote 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 GNLN Common Units Conversion of derivative security $0 -500K -24.72% $0.00 1.52M Jan 5, 2022 Class A Common Stock 500K Direct F2, F3
holding GNLN Common Units 16M Jan 5, 2022 Class A Common Stock 16M See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person is a stockholder of Jacoby & Co. Inc. ("Jacoby"), which is a member of the Operating Company (as defined below) and is the direct record owner of the securities described herein. The reporting person shares voting control of such securities owned by Jacoby and has a pecuniary interest in such securities held by Jacoby.
F2 Pursuant to the Third Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operating Company (the "Common Units") are redeemable on a one-for-one basis for shares of Class A common stock of the Issuer, or, at the election of the Issuer, cash equal to a volume weighted average market price of a share of Class A common stock. Upon any redemption of Common Units, one share of Class B common stock is automatically forfeited and cancelled for each Common Unit so redeemed. On January 5, 2022 the Reporting Person tendered 500,000 Common Units for redemption and was issued 500,000 shares of Class A common stock.
F3 The Common Units have no expiration date.