Form 4: Concord Acquisition Corp III: Director Lee Kyeongho Reports Changes in Beneficial Ownership Following Business Combination

Director Lee Kyeongho reports acquisition of Concord Acquisition Corp III common stock and restricted stock units following the business combination with GCT Semiconductor, Inc.

Summary

• Director Lee Kyeongho filed a Form 4 reporting changes in beneficial ownership of Concord Acquisition Corp III (GCTS) common stock.
• The changes are a result of the business combination between Concord Acquisition Corp III and GCT Semiconductor, Inc., which occurred on March 26, 2024.
• Lee Kyeongho acquired 867,840 shares of common stock and 93,380 restricted stock units (RSUs) as a result of the conversion of GCT common stock and RSUs.
• The RSUs vest in equal annual installments over a four-year period from December 11, 2023.
• Lee Kyeongho also indirectly owns 4,150 shares of common stock through a spouse.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to a previously announced business combination. The sentiment is neutral to slightly positive as it reflects the completion of a significant corporate event.

Industry Context

Form 4 filings are standard practice when insiders of a publicly traded company have transactions in the company's stock, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about the changes in ownership structure following the business combination.
• The filing provides transparency regarding the compensation structure for key personnel, including the vesting schedule of RSUs.

Key Dates