Schwab Charles R. - Aug 1, 2025 Form 4 Insider Report for Local Bounti Corporation/DE (LOCL)

Role
10%+ Owner
Signature
/s/ Charles R. Schwab
Stock symbol
LOCL
Transactions as of
Aug 1, 2025
Transactions value $
$10,000,000
Form type
4
Date filed
8/5/2025, 04:18 PM
Previous filing
Jun 13, 2025
Next filing
Aug 11, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Schwab Charles R. 10%+ Owner C/O LOCAL BOUNTI CORPORATION, 490 FOLEY LANE, HAMILTON /s/ Charles R. Schwab 2025-08-05 0000923738

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 LOCL Convertible Note Purchase $10M $10M Aug 1, 2025 Common Stock 4M $2.50 By LLC F1, F2, F3
transaction LOCL Common Stock Purchase Warrant Purchase +550K 550K Aug 1, 2025 Common Stock 550K $0.13 By LLC F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On August 1, 2025, U.S. Bounti, LLC and Local Bounti Corporation (the "Issuer") entered into an agreement (the "Purchase Agreement") under which U.S. Bounti, LLC purchased from the Issuer, for a combined purchase price of $10.0 million, (i) a convertible note with an initial principal balance of $10.0 million (the "Note") and (ii) a common stock purchase warrant (the "Warrant") pursuant to which U.S. Bounti, LLC has the right to purchase and acquire 550,000 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"). (Continued on Footnote 2).
F2 (Continued from Footnote 1). Pursuant to the terms of the Purchase Agreement, U.S. Bounti, LLC will not have the right to receive, upon conversion of the Note or exercise of the Warrant, any shares of Common Stock if the issuance of such shares of Common Stock would exceed 221,031 shares, except that such limitation will not apply after the date that stockholder approval is obtained and deemed effective, as required by the rules and regulations of the New York Stock Exchange (the "Required Stockholder Approval"). The Issuer is required to seek the Required Stockholder Approval at a special stockholders meeting within three months of August 1, 2025.
F3 Securities held by U.S. Bounti, LLC.