FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Pineapple Energy Inc. [ PEGY ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/12/2023 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 06/12/2023 | S | 16,867 | D | $1.45(1) | 1,597,571 | I | By Lake Street Solar LLC | ||
Common Stock | 06/13/2023 | S | 11,016 | D | $1.46(2) | 1,586,555 | I | By Lake Street Solar LLC | ||
Common Stock | 06/14/2023 | S | 5,306 | D | $1.42(3) | 1,581,249 | I | By Lake Street Solar LLC | ||
Common Stock | 06/15/2023 | S | 5,310 | D | $1.4(4) | 1,575,939 | I | By Lake Street Solar LLC | ||
Common Stock | 08/14/2023 | S | 50,000 | D | $1.1189(5) | 1,525,939 | I | By Lake Street Solar LLC | ||
Common Stock | 08/21/2023 | S | 50,000 | D | $1.0548(6) | 1,475,939 | I | By Lake Street Solar LLC | ||
Common Stock | 09/12/2023 | S | 2,900 | D | $1.04(7) | 1,473,039 | I | By Lake Street Solar LLC | ||
Common Stock | 09/13/2023 | S | 22,100 | D | $1.01(8) | 1,450,939 | I | By Lake Street Solar LLC | ||
Common Stock | 11/03/2023 | J | 301,587(9) | D | $0 | 1,149,352 | I | By Lake Street Solar LLC | ||
Common Stock | 11/14/2023 | S | 2,600 | D | $0.676(10) | 1,146,752 | I | By Lake Street Solar LLC | ||
Common Stock | 11/15/2023 | S | 9,616 | D | $0.6549(11) | 1,137,136 | I | By Lake Street Solar LLC | ||
Common Stock | 11/16/2023 | S | 4,630 | D | $0.6175(12) | 1,132,506 | I | By Lake Street Solar LLC | ||
Common Stock | 11/17/2023 | S | 4,600 | D | $0.6171(13) | 1,127,906 | I | By Lake Street Solar LLC | ||
Common Stock | 11/20/2023 | S | 2,488 | D | $0.61(14) | 1,125,418 | I | By Lake Street Solar LLC | ||
Common Stock | 12,500 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
1. Reflects the weighted average price of 16,867 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on June 12, 2023 with sale prices ranging from $1.43 to $1.455 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
2. Reflects the weighted average price of 11,016 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on June 13, 2023 with sale prices ranging from $1.42 to $1.53 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
3. Reflects the weighted average price of 5,306 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on June 14, 2023 with sale prices ranging from $1.39 to $1.44 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
4. Reflects the weighted average price of 5,310 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on June 15, 2023 with sale prices ranging from $1.38 to $1.43 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
5. Reflects the weighted average price of 50,000 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on August 14, 2023 with sale prices ranging from $1.06 to $1.22 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
6. Reflects the weighted average price of 50,000 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on August 21, 2023 with sale prices ranging from $1.03 to $1.10 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
7. Reflects the weighted average price of 2,900 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on September 12, 2023 with sale prices ranging from $1.03 to $1.05 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
8. Reflects the weighted average price of 22,100 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on September 13, 2023 with sale prices ranging from $0.92 to $1.05 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
9. As previously reported on the Form 4 filed by the reporting person on April 4, 2022, the reporting person had 301,587 shares of the issuer's common stock (the "Escrowed Shares") held in escrow by a third-party escrow agent in connection with a merger (the "Merger") between the issuer and Pineapple Energy, LLC that closed on March 28, 2022. This Form 4 is being filed to report that the Escrowed Shares were released and distributed according to the terms of an escrow agreement that was entered into on the closing date of the Merger by and among the issuer and certain Pineapple shareholders. |
10. Reflects the weighted average price of 2,600 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on November 14, 2023 with sale prices ranging from $0.67 to $0.68 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
11. Reflects the weighted average price of 9,616 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on November 15, 2023 with sale prices ranging from $0.64 to $0.6849 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
12. Reflects the weighted average price of 4,630 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on November 16, 2023 with sale prices ranging from $0.6111 to $0.6200 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
13. Reflects the weighted average price of 4,600 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on November 17, 2023 with sale prices ranging from $0.6000 to $0.6310 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
14. Reflects the weighted average price of 2,488 shares of common stock of Pineapple Energy, Inc. sold by the reporting person in multiple transactions on November 20, 2023 with sale prices ranging from $0.605 to $0.620 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. |
/s/ Scott Honour, Managing Director | 11/29/2023 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |