EWC Holdings, Inc. - Sep 26, 2022 Form 4 Insider Report for European Wax Center, Inc. (EWCZ)

Role
10%+ Owner
Signature
/s/ David Coba
Stock symbol
EWCZ
Transactions as of
Sep 26, 2022
Transactions value $
$0
Form type
4
Date filed
9/27/2022, 05:25 PM
Previous filing
Dec 22, 2021
Next filing
Oct 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EWCZ Class B common stock Conversion of derivative security -4.2M -48.98% 4.37M Sep 26, 2022 Direct F1, F2, F3
transaction EWCZ Class A common stock Conversion of derivative security +4.2M +210000000% 4.2M Sep 26, 2022 Direct F3

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 EWCZ Common Units of EWC Ventures, LLC Conversion of derivative security -4.2M -48.98% 4.37M Sep 26, 2022 Class A common stock 4.2M Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Class B Common Stock of the Issuer have one vote per share but no economic rights (including rights to dividends and distributions upon liquidation) and are issued in an equal amount to the number of common units of EWC Ventures LLC ("EWC Ventures Units") held.
F2 Pursuant to the terms of the Exchange Agreement, effective August 4, 2021, by and among the Issuer, EWC Ventures, LLC and the equityholders of EWC Ventures, LLC (the "Exchange Agreement"), EWC Ventures Units, together with a corresponding number of shares of Class B common stock, may be exchanged for shares of Class A common stock of the issuer, which have one vote per share and economic rights (including rights to dividends and distributions upon liquidation), on a one-for-one basis at the discretion of the holder. The exchange rights under the Exchange Agreement do not expire.
F3 Pursuant to the Exchange Agreement, the Reporting Person exchanged 4,200,000 EWC Ventures Units, together with 4,200,000 shares of Class B common stock, for 4,200,000 shares of Class A common stock.