| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AERT | Aeries Shares Put Exchange Right | Award | +59.1K | 59.1K | Mar 26, 2024 | Class A Ordinary Shares | 851K | Direct | F1, F2 | ||||
| transaction | AERT | Aeries Shares Call Exchange Right | Disposed to Issuer | +59.1K | 59.1K | Mar 26, 2024 | Class A Ordinary Shares | 851K | Direct | F1, F2 | ||||
| transaction | AERT | Aeries Shares Put Exchange Right | Award | +59.1K | 59.1K | Mar 26, 2024 | Class A Ordinary Shares | 851K | See footnote | F1, F2, F3 | ||||
| transaction | AERT | Aeries Shares Call Exchange Right | Disposed to Issuer | +59.1K | 59.1K | Mar 26, 2024 | Class A Ordinary Shares | 851K | See footnote | F1, F2, F3 |
| Id | Content |
|---|---|
| F1 | Pursuant to the terms and subject to the restrictions set forth in that certain Exchange Agreement, dated as of November 6, 2023 (the "Exchange Agreement"), by and among Aeries Technology, Inc. (the "Issuer"), Aeries Technology Group Business Accelerators Private Limited ("Aeries"), the reporting person, and the other parties thereto, the reporting person has a put exchange right, subject to certain exercise conditions, to exchange the reporting person's ordinary shares of Aeries, par value of INR 10 per share (the "Aeries Shares"), for Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares") of the Issuer, at an exchange rate of approximately 14.40 Class A Ordinary Shares for each Aeries Share. The Issuer also has a call exchange right under the Exchange Agreement, subject to the exercise conditions, to require the reporting person to exchange up to all of the reporting person's Aeries Shares for Class A Ordinary Shares or a cash exchange payment. |
| F2 | (Continued from footnote 1) The Issuer determined that the exercise conditions to the exchange rights were satisfied on March 26, 2024. As of the date of this Form 4, the reporting person has the right to exchange up to 20% of the Aeries Shares and, on and after April 1, 2024, the reporting person has the right to exchange 100% of the Aeries Shares. In addition, subject to certain conditions, either the call exchange or put exchange may be settled with a cash exchange payment calculated as the arithmetic average of the volume-weighted average price of Class A Ordinary Shares for the five (5) consecutive trading days ending on the date that is two (2) business days after the reporting person delivers notice of the exercise of the put exchange. |
| F3 | Represents Class A Ordinary Shares issuable pursuant to the exercise of exchange rights with respect to Aeries Shares held by the Aeries Employee Stock Option Trust ("ESOP Trust") for which the reporting is person is a beneficiary and assumes distribution of such Aeries Shares by the ESOP Trust to the reporting person prior to an exchange for Class A Ordinary Shares. |