Form 4: Montana Technologies Corp.: John Yogi Spence Reports Securities Transactions
SEC Form 4
John Yogi Spence, a director of Montana Technologies Corp., reports multiple transactions involving Class A Common Stock and Private Placement Warrants, including acquisitions, disposals, and distributions.
Summary
- John Yogi Spence, a director of Montana Technologies Corp., filed a Form 4 detailing changes in beneficial ownership.
- On September 18, 2024, Spence acquired 11,765 shares of Class A Common Stock at $8.50 per share.
- On September 19, 2024, Spence acquired 5,882 shares of Class A Common Stock at $8.50 per share.
- On October 17, 2024, a pro-rata distribution in-kind by XMS XPDI Sponsor II Holdings LLC resulted in Spence indirectly owning 3,481,337 shares of Class A Common Stock and 2,725,000 Private Placement Warrants.
- Also on October 17, 2024, Spence directly acquired 746,694 shares of Class A Common Stock, indirectly acquired 153,626 shares of Class A Common Stock, directly acquired 584,470 Private Placement Warrants, and indirectly acquired 120,250 Private Placement Warrants.
- The Private Placement Warrants have an exercise price of $11.50 and expire on March 14, 2029.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing transactions by a company insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Management Comments
- Theodore J. Brombach and John Yogi Spence are the managing members of XMS XPDI Holdings.
- Theodore J. Brombach and John Yogi Spence are each 50% owners and the managing members of XMS Holdings LLC.
- Each such person disclaims beneficial ownership of these securities, except to the extent, if any, of their pecuniary interest therein.
Industry Context
This filing is a routine disclosure of securities transactions by a company insider, as required by the SEC. It provides transparency to the market regarding the trading activities of individuals with access to non-public information.
Stakeholder Impact
- The reported transactions may influence investor perception of Montana Technologies Corp.'s stock.
Key Dates
| Date | Description |
|---|---|
| 04/13/2024 | Date exercisable for Private Placement Warrants |
| 09/18/2024 | Transaction date for acquisition of Class A Common Stock |
| 09/19/2024 | Transaction date for acquisition of Class A Common Stock |
| 10/17/2024 | Transaction date for distribution and acquisition of securities |
| 10/21/2024 | Date of signature for the Form 4 filing |
| 03/14/2029 | Expiration date for Private Placement Warrants |
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