Asher Genoot - Nov 30, 2023 Form 4/A - Amendment Insider Report for Hut 8 Corp. (HUT)

Role
President, Director
Signature
/s/ Asher Genoot
Stock symbol
HUT
Transactions as of
Nov 30, 2023
Transactions value $
$0
Form type
4/A - Amendment
Date filed
12/6/2023, 08:00 PM
Date Of Original Report
Dec 4, 2023
Previous filing
Nov 9, 2023
Next filing
Mar 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HUT Common stock, par value $0.01 per share Other $0 +3.31M $0.00 3.31M Nov 30, 2023 Direct 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 HUT Stock Option (right to buy) Award $0 +704K $0.00 704K Nov 30, 2023 Common Stock, par value $0.01 per share 704K $0.39 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 30, 2023, in connection with the consummation of the business combination (the "Business Combination") by and among Hut 8 Corp. (the "Company"), U.S. Data Mining Group, Inc., a Nevada corporation ("USBTC") and Hut 8 Mining Corp., a corporation existing under the laws of British Columbia ("Hut 8"), the Reporting Person exchanged his shares of USBTC common stock for shares of the Company's Common Stock, par value $0.01 per share ("Common Stock"), at an exchange ratio of 0.6716 in accordance with the terms of the Business Combination. The acquisition of these shares pursuant to the consummation of the Business Combination were exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b3(d) given the Business Combination, and the Reporting Person's receipt of the Company's shares, was approved and ratified by both the Company's board of directors and shareholders.
F2 Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the "USBTC Options") held by the Reporting Person to purchase shares of common stock of USBTC prior to the consummation of the Business Combination on November 30, 2023. The USBTC Options were originally issued by USBTC on January 5, 2023.
F3 The shares vest over a four-year period which began on January 5, 2023, with 176,112 shares vesting on January 5, 2024 and the remaining shares vesting pro-rata on a monthly basis over the remaining three-year period.

Remarks:

On December 4, 2023, the Reporting Person filed a Form 4 which inadvertently omitted the number of shares held by the Reporting Person in a Roth IRA in Table I, Column 5. This Form 4/A makes the correction to report that the Reporting Person beneficially owns 3,308,850 shares of Common Stock, with 3,044,408 held individually and 264,442 held in the Reporting Person's Roth IRA.