OPAL HoldCO LLC - Mar 12, 2024 Form 4 Insider Report for OPAL Fuels Inc. (OPAL)

Role
10%+ Owner
Signature
/s/ John Coghlin as Attorney-in-Fact
Stock symbol
OPAL
Transactions as of
Mar 12, 2024
Transactions value $
$0
Form type
4
Date filed
3/14/2024, 07:31 PM
Previous filing
Jul 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OPAL Class D common stock Conversion of derivative security -71.5M -50.22% 70.9M Mar 12, 2024 Direct F1
transaction OPAL Class B common stock Conversion of derivative security +71.5M 71.5M Mar 12, 2024 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
holding OPAL Class B Common Units of OPAL Fuels LLC 142M Mar 12, 2024 Class C common stock 142M Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Certificate of Incorporation of OPAL Fuels Inc. (the "Company"), each share of Class D common stock of the Company is convertible into one share of Class B common stock of the Company at the option of the holder thereof at any time upon written notice to the Company. No conversion price is required to be paid in connection with such conversion. On March 12, 2024, OPAL HoldCo LLC delivered notice to the Company of its election to convert 71,500,000 shares of Class D common stock into a corresponding number of shares of Class B common stock.
F2 The Class B Common Units of OPAL Fuels LLC are redeemable at any time by the reporting person for, at the election of the Company, newly-issued Class C common stock on a one-for-one basis or a cash payment equal to the volume weighted average market price of one Class C common stock for each Class B Common Unit redeemed. Upon the redemption of any Class B Common Units, a number of Class D common stock equal to the number of Class B Common Units that are redeemed will be cancelled by the Issuer for no consideration.