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Filing Details

Accession Number:: 0001209191-19-031396
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-05-20 16:31:20
Reporting Period:: 2019-05-15

Accepted Time:: 2019-05-20 16:31:20
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1728688	I3 Verticals Inc.	IIIV	Services-Business Services, Nec (7389)	824052852

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1737443	Frederick Stanford	40 Burton Hills Blvd. Suite 415 Nashville TN 37215	President	No	Yes	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
Class A Common Stock, Par Value $0.0001 Per Share	Acquisiton	2019-05-15	25,000	$0.00	25,000	No	4	C	Direct
Class A Common Stock, Par Value $0.0001 Per Share	Disposition	2019-05-16	4,500	$23.67	20,500	No	4	S	Direct
Class A Common Stock, Par Value $0.0001 Per Share	Disposition	2019-05-17	20,500	$23.43	0	No	4	S	Direct
Class B Common Stock, Par Value $0.0001 Per Share	Disposition	2019-05-15	25,000	$0.00	177,577	No	4	J	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	C	Direct
No	4	S	Direct
No	4	S	Direct
No	4	J	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock, Par Value $0.0001 Per Share	Common Units	Disposition	2019-05-15	25,000	$0.00	25,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
177,577			No	4	C	Direct

Footnotes

Represents shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") of i3 Verticals, Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common units in i3 Verticals, LLC (the "Common Units").
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 8, 2019.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.50 to $23.78, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3 and 4 to this filing.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.24 to $23.66, inclusive.
Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B common stock, par value $0.0001 per share ("Class B Common Stock") are cancelled for no consideration on a one-to-one basis upon redemption of the Common Units for shares of Class A Common Stock of the Issuer.
The vested Common Units may be redeemed by the Reporting Person at any time for an equal number of shares of Class A Common Stock or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon the Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled.
139,888 Common Units are vested, 9,795 Common Units will vest on November 29, 2019 and 27,894 Common Units will vest on August 10, 2020, subject to the Reporting Person's continued service with the Issuer. The Common Units have no expiration date.