Ophir Sternberg - 23 May 2022 Form 4 Insider Report for MSP Recovery, Inc. (LIFW)

Role
Director, 10%+ Owner
Signature
/s/ Ophir Sternberg
Issuer symbol
LIFW
Transactions as of
23 May 2022
Transactions value $
$0
Form type
4
Filing time
25 May 2022, 21:45:12 UTC
Previous filing
15 Apr 2022
Next filing
01 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LIFW Class A Common Stock Options Exercise $0 +260,000 +5.6% $0 4,922,500 23 May 2022 Lionheart Equities LLC F2
transaction LIFW Class A Common Stock Other $0 -2,608,687 -53% $0 2,313,813 23 May 2022 Lionheart Equities, LLC F2, F3
transaction LIFW Class A Common Stock Options Exercise $0 +185,000 +33% $0 740,000 23 May 2022 Lionheart Investments, LLC F1, F4
transaction LIFW Class A Common Stock Award $0 +1,000,000 $0 1,000,000 23 May 2022 Star Mountain Equities, LLC F5
transaction LIFW Class A Common Stock Award $0 +1,000,000 $0 1,000,000 23 May 2022 2022 OS Irrevocable F6
transaction LIFW Class B Common Stock Other $0 -4,662,500 -100% $0* 0 23 May 2022 Lionheart Equities, LLC F2, F7
transaction LIFW Class B Common Stock Other $0 -555,000 -100% $0* 0 23 May 2022 Lionheart Investments, LLC F4, F7

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 LIFW Class A Units Options Exercise $0 -260,000 -100% $0* 0 23 May 2022 Class A Common Stock 260,000 $0 Lionheart Equities LLC F2, F8
transaction LIFW Class A Units Options Exercise $0 -185,000 -100% $0* 0 23 May 2022 Class A Common Stock 185,000 $0 Lionheart Investments, LLC F1, F2, F8
transaction LIFW Warrants Award $0 +130,000 $0 130,000 23 May 2022 Class A Common Stock 130,000 $11.5 Lionheart Equities, LLC F2
transaction LIFW Warrants Other $0 -8,750 -6.7% $0 121,250 23 May 2022 Class A Common Stock 8,750 $0 Lionheart Equities, LLC F2, F9
transaction LIFW Warrants Award $0 +92,500 $0 92,500 23 May 2022 Class A Common Stock 92,500 $11.5 Lionheart Investments, LLC F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ophir Sternberg is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These shares were previously inadvertently aggregated into the shares owned by Lionheart Equities, LLC ("Sponsor").
F2 These shares of Class A Common Stock ("Class A Shares") are owned directly by Sponsor, an entity which Mr. Sternberg owns and controls.
F3 These shares were transferred to certain affiliates of Sponsor in connection with the closing of the Issuer's business combination on May 23, 2022 (the " Business Combination").
F4 These Class A shares are owned directly by Lionheart Investments, LLC ("Investments"), an entity which Mr. Sternberg owns and controls.
F5 These Class A shares are owned directly by Star Mountain Equities, LLC, an entity which Mr. Sternberg owns and controls.
F6 These Class A shares are owned directly by 2022 OS Irrevocable Trust, over which Mr. Sternberg has sole investment and dispository power as its trustee.
F7 Reflects the cancellation for no consideration of Class B Common Stock ("Class B Shares") of the Issuer in connection with the conversion of the Class B Shares into Class A Shares. These Class B Shares were converted into Class A Shares, on a one-for-one basis, in connection with the closing of the Business Combination.
F8 Each of these Class A Units were converted into (i) one Class A Share of Issuer and (ii) one-half of one Warrant to purchase a Class A Share of Issuer at an exercise price of $11.50 per share upon the completion of the combination transaction.
F9 The warrants were transferred to certain affiliates of Sponsor in connection with the closing of the Business Combination for no consideration.