Professional Partners Pwp, a director of FinTech Acquisition Corp. IV, has now declared ownership of 0 restricted shares from the company. The restricted shares don't become available to Pwp until such time as they become vested.
Some additional info was provided as follows:
Concurrently with an exchange of PWP Holdings LP Common Units (which represent Class A partnership units of PWP Holdings LP) ("PWP OpCo Units") for shares of Class A common stock ("Class A Shares") or cash by a PWP Holdings LP unitholder ("Unitholder") who also holds shares of Class B-1 common stock ("Class B-1 Shares"), such Unitholder will be required to surrender to the Issuer a number of Class B-1 Shares equal to the number of PWP OpCo Units exchanged, and such Class B-1 Shares will be converted into Class A Shares or, at the option of the Issuer, for an equivalent amount of cash, which will be delivered to such Unitholder at a conversion rate of 0.001 Class A Share for one Class B-1 Share.
Reflects a distribution of PWP OpCo Units and an equivalent number of Class B-1 Shares by the Reporting Person to one or more of its limited partners.
Subject to certain lock-up periods, PWP OpCo Units, upon the surrender of an equal number of Class B-1 Shares, may be exchanged for Class A Shares on a one-for-one basis or, at the option of the Issuer, for an equivalent amount of cash. PWP OpCo Units do not expire.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
FinTech Acquisition Corp.: Andrew Bednar Appointed Ceo Of Perella Weinberg Partners; - Sept. 26, 2022
Unregistered Sales of Equity - Sept. 7, 2022
Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities - Sept. 7, 2022
FinTech Acquisition Corp. IV director just declared 0 restricted shares - Sept. 7, 2022
FinTech Acquisition Corp. IV director just disposed of 358 shares - Aug. 31, 2022