Kevin Stateham - Jul 12, 2024 Form 4 Insider Report for Monterey Capital Acquisition Corp (CNTM)

Role
Vice President, Sales and Corporate Development
Signature
/s/ Bhaskar Panigrahi, Attorney-in-Fact
Stock symbol
CNTM
Transactions as of
Jul 12, 2024
Transactions value $
$0
Form type
4
Date filed
7/16/2024, 04:35 PM

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 CNTM Stock Option (Right to Buy) Award +24.9K 24.9K Jul 12, 2024 Common Stock 24.9K $0.50 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated December 31, 2022, as amended, among Monterey Capital Acquisition Corp. (now known as ConnectM Technology Solutions, Inc.) (the "Issuer"), ConnectM Operations, Inc. (f/k/a ConnectM Technology Solutions, Inc.) ("Legacy ConnectM"), and Chronos Merger Sub, Inc. (such transactions, the "Business Combination"), at the effective time of the Business Combination (the "Effective Time"), each Legacy ConnectM stock option was converted into an option to purchase a number of shares of common stock of the Issuer, equal to the product (rounded down to the nearest whole number) of (x) the number of shares of Legacy ConnectM common stock subject to such Legacy ConnectM option immediately prior to the Effective Time and (y) the exchange ratio of approximately 3.32 (the "Exchange Ratio"), at an exercise price per share equal to (A) the exercise price of such Legacy ConnectM option divided by (B) the Exchange Ratio.

Remarks:

Vice President, Sales and Corporate Development