Northern Star III Sponsor LLC - Mar 3, 2023 Form 4 Insider Report for Northern Star Investment Corp. III (NSTC)

Role
10%+ Owner
Signature
Northern Star III Sponsor LLC, by Jonathan J. Ledecky, Managing Member
Stock symbol
NSTC
Transactions as of
Mar 3, 2023
Transactions value $
$0
Form type
4
Date filed
3/7/2023, 04:00 PM
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NSTC Class A Common Stock Conversion of derivative security $0 +9.71M $0.00 9.71M Mar 3, 2023 by Northern Star III Sponsor 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 NSTC Class B Common Stock Conversion of derivative security $0 -9.71M -100% $0.00* 0 Mar 3, 2023 Class A Common Stock 9.71M $0.00 by Northern Star III Sponsor LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class B Common Stock will convert into Class A Common Stock upon the earlier of (1) request by the holder or (2) automatically at the time of the Issuer's initial business combination. Such conversion shall be on a one-for-one basis, subject to adjustment. The Class B Common Stock has no exercise or conversion price, nor expiration date.
F2 These shares are owned directly by Northern Star III Sponsor LLC, a ten percent owner of the issuer, and indirectly by its managing members, Jonathan Ledecky, the Issuer's President and Chief Operating Officer and a director on its Board of Directors, and Joanna Coles, the Issuer's Chief Executive Officer and a director on and Chairperson of its Board of Directors. Each of Mr. Ledecky and Ms. Coles disclaim beneficial ownership of the securities held by Northern Star III Sponsor LLC, except to the extent of his/her pecuniary interest therein.