Tom Zaccagnino - 30 Oct 2024 Form 4 Insider Report for GRIID Infrastructure Inc. (GRDI)

Role
Director
Signature
/s/ Alexander G. Fraser, Attorney-in-Fact
Issuer symbol
GRDI
Transactions as of
30 Oct 2024
Net transactions value
$0
Form type
4
Filing time
31 Oct 2024, 20:17:56 UTC
Previous filing
06 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRDI Common Stock Disposed to Issuer -4,134,119 -100% 0 30 Oct 2024 Direct F1
transaction GRDI Common Stock Disposed to Issuer -41,010 -100% 0 30 Oct 2024 By The Thomas J. Zaccagnino 2020 Irrevocable Trust F2
transaction GRDI Common Stock Disposed to Issuer -185,185 -100% 0 30 Oct 2024 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Tom Zaccagnino 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 canceled pursuant to the closing of the merger contemplated under the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024, by and among the Issuer, CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc. and automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.
F2 These shares were canceled pursuant to the closing of the merger contempleted under the Merger Agreement and automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement. These shares were held indirectly by the Thomas J. Zaccagnino 2020 Irrevocable Trust. Mr. Zaccagnino is the grantor and trustee of such trust, with his childrent as the primary beneficiaries. As a result, Mr. Zaccagnino may deemed to beneficially own such shares.
F3 Represents shares of the Issuer's common stock underlying restricted stock units ("RSU's"). Each RSU award that was outstanding immediately prior to the effective time of the merger immediately vested with respect to 100% of the shares of Issuer common stock subject to such award, which shares of Issuer common stock were automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.