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Filing Details

Accession Number:: 0000950170-25-049570
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2025-04-02 17:14:56
Reporting Period:: 2025-03-31

Filing Date:: 2025-04-02
Accepted Time:: 2025-04-02 17:14:56
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1840780	Local Bounti Corporation	LOCL	()	CA

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
923738	R. Charles Schwab	C/O Local Bounti Corporation 490 Foley Lane Hamilton MT 59840		No	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2025-03-31	1,700,723	$2.00	1,700,723	No	4	P	Indirect	By LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By LLC

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Non-Voting Convertible Preferred Stock	Acquisiton	2025-03-31	10,299,277	$2.00	10,299,277	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
10,299,277			No	4	P	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	271,354	Indirect	By Trust
Common Stock	10,758	Indirect	By LLC
Common Stock	858,284	Indirect	By LLC

Footnotes

Shares owned by U.S. Bounti, LLC.
Shares owned by The Charles & Helen Schwab Living Trust U/A DTD 11/22/1985 (the "Trust") of which the insider and his spouse are trustees and beneficiaries.
Shares owned by Olive Street Ventures LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.
Shares owned by Live Oak Ventures, LLC.
On March 31, 2025, U.S. Bounti, LLC, certain other purchasers and Local Bounti Corporation (the "Issuer") entered into an agreement (the "Securities Purchase Agreement") under which U.S. Bounti, LLC purchased from the Issuer 10,299,277 shares of Series A Non-Voting Convertible Preferred Stock ("Preferred Stock") at a price of $2 per share. (Con't in Footnote 6)
Pursuant to the terms of the Securities Purchase Agreement, the Issuer will submit to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). Prior to such approval of the Conversion Proposal, the number of shares of Common Stock issuable upon conversion of the Preferred Stock, when aggregated with the number of shares of Common Stock issued at the closing of the Securities Purchase Agreement, will not exceed 19.99% of the Issuer's issued and outstanding Common Stock. Following such approval of the Conversion Proposal, each share of Preferred Stock will automatically convert into one share of Common Stock. The Preferred Stock is redeemable at the option of the holder at the purchase price if not automatically converted within one year from the date of issuance. The Preferred Stock has no expiration date.