Ophir Sternberg - 07 Jun 2022 Form 4 Insider Report for MSP Recovery, Inc. (LIFW)

Role
Director, 10%+ Owner
Signature
/s/ Ophir Sternberg
Issuer symbol
LIFW
Transactions as of
07 Jun 2022
Transactions value $
-$15
Form type
4
Filing time
09 Jun 2022, 19:35:36 UTC
Previous filing
01 Jun 2022
Next filing
04 Jan 2023
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 Exercise of in-the-money or at-the-money derivative security $0 +121,250 +5.24% $0 2,435,063 07 Jun 2022 Lionheart Equities, LLC F1, F2
transaction LIFW Class A Common Stock Sale -$8 -3 -0% $2.98* 2,435,960 07 Jun 2022 Lionheart Equities, LLC F2, F3
transaction LIFW Class A Common Stock Exercise of in-the-money or at-the-money derivative security $0 +92,500 +12.5% $0 832,500 07 Jun 2022 Lionheart Investments, LLC F1, F4
transaction LIFW Class A Common Stock Sale -$5 -2 -0% $2.98* 832,498 07 Jun 2022 Lionheart Investments, LLC F4, F5
holding LIFW Class A Common Stock 1,000,000 07 Jun 2022 Star Mountain Equities, LLC F6
holding LIFW Class A Common Stock 1,000,000 07 Jun 2022 2022 OS Irrevocable Trust 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 Warrant (right to buy) Exercise of in-the-money or at-the-money derivative security $0 +121,250 $0* 0 07 Jun 2022 Class A Common Stock 121,247 $11.5 Lionheart Equities LLC
transaction LIFW Warrant (right to buy) Exercise of in-the-money or at-the-money derivative security $0 +92,500 $0* 0 07 Jun 2022 Class A Common Stock 92,498 $11.5 Lionheart Investments, LLC
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 25, 2022, the issuer made a distribution of newly issued warrants on account of the outstanding shares of Class A Common Stock, resulting in a decrease of the exercise price of the warrants from $11.50 to $0.0001, the par value of the Class A Common Stock, per share pursuant to the terms of the Warrant Agreement governing such warrants.
F2 The Class A Common Stock are owned directly by Lionheart Equities, LLC ("Equities"), an entity which Mr. Sternberg owns and controls.
F3 On June 7, 2022, the reporting person exercised warrants to purchase 121,252 shares of Issuer's common stock for $0.0001 a share. The reporting person paid the exercise price on a cashless basis, resulting in Issuer's withholding of 3 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 121,247 shares.
F4 The Class A Common Stock are owned directly by Lionheart Investments, LLC ("Investments), an entity which Mr. Sternberg owns and controls.
F5 On June 7, 2022, the reporting person exercised warrants to purchase 92,500 shares of Issuer's common stock for $0.0001 a share. The reporting person paid the exercise price on a cashless basis, resulting in Issuer's withholding of 2 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 92,498 shares.
F6 These Class A shares are owned directly by Star Mountain Equities, LLC, an entity which Mr. Sternberg owns and controls.
F7 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.