James R. Burke - Nov 5, 2021 Form 4 Insider Report for Solaris Oilfield Infrastructure, Inc. (SOI)

Role: Director
Signature: /s/ Cynthia M. Durrett, as attorney-in-fact for James R. Burke
Stock symbol: SOI
Transactions as of: Nov 5, 2021
Transactions value $: -$415,000
Form type: 4
Date filed: 11/8/2021, 04:01 PM
Previous filing: Aug 25, 2021
Next filing: May 13, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SOI	Class A Common Stock	Conversion of derivative security	$0	+50K	+176.49%	$0.00	78.3K	Nov 5, 2021	Direct	F1, F2
transaction	SOI	Class A Common Stock	Sale	-$415K	-50K	-63.83%	$8.30	28.3K	Nov 5, 2021	Direct	F2, F3
transaction	SOI	Class B Common Stock	Other	$0	-50K	-53.92%	$0.00	42.7K	Nov 5, 2021	Direct	F1, F4

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	SOI	Solaris Oilfield Infrastructure, LLC Units	Conversion of derivative security		-50K	-53.92%		42.7K	Nov 5, 2021	Class A Common Stock	50K		Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Solaris Oilfield Infrastructure, LLC ("Solaris LLC"), dated as of May 11, 2017, included as Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed May 17,2017 (the "Solaris LLC Agreement"), the Shares of the Issuer's Class B common stock reported herein were cancelled for no consideration on a one-for-one basis upon the redemption by the Reporting Person of units in Solaris LLC ("Solaris LLC Units") (together with a corresponding number of shares of Class B common stock) for the shares of the Issuer's Class A common stock reported herein.
F2	Includes 15,687 shares of Class A common stock subject to previously granted Restricted Stock Awards that remain subject to vesting.
F3	The Price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.25 to $8.61, inclusive. The reporting person undertakes to provide Solaris Oilfield Infrastructure, Inc., any security holder of Solaris Oilfield Infrastructure, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to the Form 4.
F4	Each share of Class B common stock has no economic rights but entitles the holder to one vote on all matters to be voted on by the stockholders generally.
F5	Subject to the Solaris LLC Agreement, the Solaris LLC Units (together with a corresponding number of shares of Class B common stock) are exchangeable from time to time for shares of Class A common stock of the Issuer.