0001912571-23-000003.txt : 20231218 0001912571-23-000003.hdr.sgml : 20231218 20231218191802 ACCESSION NUMBER: 0001912571-23-000003 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231122 FILED AS OF DATE: 20231218 DATE AS OF CHANGE: 20231218 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lone Star Friends Trust CENTRAL INDEX KEY: 0001909643 ORGANIZATION NAME: STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39331 FILM NUMBER: 231495209 BUSINESS ADDRESS: STREET 1: 2301 BROADWAY STREET CITY: SAN ANTONIO STATE: TX ZIP: 78215 BUSINESS PHONE: (210) 250-6000 MAIL ADDRESS: STREET 1: 2301 BROADWAY STREET CITY: SAN ANTONIO STATE: TX ZIP: 78215 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Blend Stanley CENTRAL INDEX KEY: 0001912571 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39331 FILM NUMBER: 231495210 MAIL ADDRESS: STREET 1: C/O TREBIA ACQUISITION CORP. STREET 2: 41 MADISON AVENUE, SUITE 2020 CITY: NEW YORK STATE: NY ZIP: 10010 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: System1, Inc. CENTRAL INDEX KEY: 0001805833 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 923978051 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 4235 REDWOOD AVENUE CITY: MARINA DEL REY STATE: CA ZIP: 90066 BUSINESS PHONE: 310-924-6037 MAIL ADDRESS: STREET 1: 4235 REDWOOD AVENUE CITY: MARINA DEL RAY STATE: CA ZIP: 90066 FORMER COMPANY: FORMER CONFORMED NAME: Trebia Acquisition Corp. DATE OF NAME CHANGE: 20200306 4 1 wk-form4_1702945071.xml FORM 4 X0508 4 2023-11-22 0 0001805833 System1, Inc. SST 0001912571 Blend Stanley C/O SYSTEM1, INC. 4235 REDWOOD AVENUE LOS ANGELES CA 90066 0 0 1 0 0001909643 Lone Star Friends Trust 14122 BLUFF MANOR DRIVE SAN ANTONIO TX 78216 0 0 1 0 0 Class C Common Stock 2023-11-22 4 J 0 1000000 0 D 6975103 I Trust (Lone Star Friends Trust) Class C Common Stock 2023-11-22 4 J 0 500000 0 A 751379 I Trust (The Dante Jacob Blend Trust) Class C Common Stock 2023-11-22 4 J 0 500000 0 A 751379 I Trust (The Nola Delfina Blend Trust) Class B Units Class A Common Stock 751379 751379 I Trust (The Dante Jacob Blend Trust) Class B Units Class A Common Stock 751379 751379 I Trust (The Nola Delfina Blend Trust) Class B Units Class A Common Stock 6975103 6975103 I Trust (Lone Star Friends Trust) The Lone Star Friends Trust made a deemed distribution of 1,000,000 shares of Class C common stock (and 1,000,000 corresponding Class B Units of S1 Holdco LLC) to its beneficiaries (which included Mr. Michael Blend, the Issuer's co-founder and CEO, and his spouse). The beneficiaries of the Lone Star Friends Trust immediately made a gift of 500,000 shares of Class C common stock (and 500,000 corresponding Class B Units of S1 Holdco, LLC) to each of the Dante Jacob Blend Trust and the Nola Deflina Blend Trust (which are trusts established for the benefit of the beneficiaries children). The Reporting Person is the Trustee of each of the Lone Star Friends Trust, the Dante Jacob Blend Trust and the Nola Delfina Blend Trust. Includes 1,533 shares received in connection with pro-rata distributions from OpenMail2, LLC to its members, for no consideration and in an exempt transaction under Rule 16a-9, since the Reporting Person's last reportable transaction filed on Form 4. Reflects securities held by the Lone Star Friends Trust ("Lone Star"). Mr. Blend is the Trustee of Lone Star, with sole voting and dispositive power over the assets of Lone Star. Reflects securities held by the Dante Jacob Blend Trust (the "Dante Trust"). Mr. Blend is the Trustee of the Dante Trust. Represents securities held by the Nola Delfina Blend Trust (the "Nola Trust"). Mr. Blend is the Trustee of the Nola Trust. Pursuant to the Seventh Amended and Restated Limited Liability Company Operating Agreement of S1 Holdco, the Class B Units are redeemable (in connection with the surrender and forfeiture of the corresponding shares of Class C common stock) on a one-for-one basis for shares of the Company's Class A common stock, or, at the election of the Company, cash equal to the volume weighted average market price of a share of Class A Common Stock at the time of such redemption. /s/ Daniel Weinrot, Attorney--in-Fact for Stanley Blend 2023-12-18 /s/ Daniel Weinrot, Attoney-in-Fact for Lone Star Friends Trust 2023-12-18