Form 4: Spruce Power Holding Corp Director Kevin Griffin Reports Changes in Beneficial Ownership

Director Kevin Griffin reports acquisition and disposal of Spruce Power Holding Corp stock, including restricted stock units vesting in 2025.

Summary

• On August 12, 2024, Kevin Griffin, a director of Spruce Power Holding Corp, reported changes in beneficial ownership of the company's stock.
• Griffin acquired 54,662 shares of common stock in the form of restricted stock units (RSUs) at a price of $0.
• These RSUs will vest in full on August 12, 2025, contingent upon Griffin's continued service.
• Griffin also reported beneficial ownership of 487,218 shares of common stock held indirectly through MGG Investment Group, LP, where he serves as CEO and CIO, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The total amount of securities beneficially owned by the reporting person as of the date this Form 4 is filed is 54,662.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of stock ownership changes. The acquisition of RSUs could be mildly positive, but it's not a major event.

Positives

• The acquisition of restricted stock units by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The vesting of the RSUs is contingent upon the reporting person's continued service through August 12, 2025.

Management Comments

• Mr. Griffin disclaims beneficial ownership of the shares of common stock and warrants held by MGG, except to the extent of his proportionate pecuniary interest therein.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is common in the corporate world.

Stakeholder Impact

• The acquisition of RSUs by a director may have a minor positive impact on shareholder confidence.

Key Dates

Keywords

beneficial ownership, Spruce Power Holding Corp, restricted stock units, Form 4, director, Kevin Griffin, MGG Investment Group, stock, shares, vesting