Keith Jaffee - 29 Dec 2023 Form 4 Insider Report for Pinstripes Holdings, Inc. (BYN)

Role: 10%+ Owner
Signature: /s/ Keith Jaffee
Issuer symbol: BYN
Transactions as of: 29 Dec 2023
Transactions value $: $1,350,000
Form type: 4
Filing time: 03 Jan 2024, 16:34:35 UTC
Previous filing: 21 Dec 2023
Next filing: 23 Jan 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BYN	Class A Common Stock	Disposed to Issuer		-2.71M	-39.22%		4.19M	29 Dec 2023	By Banyan Acquisition Sponsor LLC	F1
transaction	BYN	Class A Common Stock	Disposed to Issuer		-1.6M	-38.08%		2.6M	29 Dec 2023	By Banyan Acquisition Sponsor LLC	F2
transaction	BYN	Class A Common Stock	Award	$1.35M	+169K		$8.00	169K	29 Dec 2023	By various trusts of which the Reporting Person is trustee

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	BYN	Class B-1 Shares	Award		+896K			896K	29 Dec 2023	Class A Common Stock	896K		By Banyan Acquisition Sponsor LLC	F2, F3
transaction	BYN	Class B-2 Shares	Award		+896K			896K	29 Dec 2023	Class A Common Stock	896K		By Banyan Acquisition Sponsor LLC	F2, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the merger between Banyan Acquisition Corporation. ("Banyan") and Pinstripes, Inc. ("Pinstripes"), 2,706,406 shares of Class A Common Stock ("Class A Shares") were forfeited for no consideration.
F2	Pursuant to the second amended and restated certificate of incorporation of Banyan ("Certificate of Incorporation"), 1,596,832 Class A Shares were reissued as 798,417 shares of Class B-1 Stock ("Class B-1 Shares") and 798,415 shares of Class B-2 Stock ("Class B-2 Shares"), each of which will automatically convert into Class A Shares upon achievement of a Class A Share trading price of $12.00 and $14.00, respectively.
F3	Includes 97,687 shares of Class B Common Stock ("Class B Shares") which, pursuant to the Certificate of Incorporation, became subject to the stock price vesting and automatic conversion provisions as Class B- 1 Shares.
F4	Includes 97,688 Class B Shares which, pursuant to the Certificate of Incorporation, became subject to the stock price vesting and automatic conversion provisions as Class B-2 Shares.