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Filing Details

Accession Number:: 0001728688-25-000097
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2025-05-15 16:41:40
Reporting Period:: 2025-05-13

Filing Date:: 2025-05-15
Accepted Time:: 2025-05-15 16:41:40
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1728688	I3 Verticals Inc.	IIIV	Retail-Variety Stores (5331)	KY

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1062406	M David Wilds	40 Burton Hills Boulevard Suite 415 Nashville TN 37215		Yes	No	No	No

Transaction Summary

Sold:	218,400 shares	Avg. Price: $24.81	Total Value: $5,418,504.00
Number of Shares After Transactions:	40,176 shares

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
Class A Common Stock, Par Value $0.0001 Per Share	Acquisiton	2025-05-13	218,400	$0.00	218,400	No	4	C	Indirect	By Front Street Equities, LLC
Class A Common Stock, Par Value $0.0001 Per Share	Disposition	2025-05-13	218,400	$24.81	0	No	4	S	Indirect	By Front Street Equities, LLC
Class B Common Stock, Par Value $0.0001 Per Share	Disposition	2025-05-13	218,400	$0.00	40,176	No	4	J	Indirect	By Front Street Equities, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	By Front Street Equities, LLC
No	4	S	Indirect	By Front Street Equities, LLC
No	4	J	Indirect	By Front Street Equities, LLC

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	2025-05-13	218,400	$0.00	218,400	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
40,176			No	4	C	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock, Par Value $0.0001 Per Share	3,876	Direct
Class B Common Stock, Par Value $0.0001 Per Share	260,657	Direct
Class B Common Stock, Par Value $0.0001 Per Share	7,550	Indirect	By wife

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Class A Common Stock, Par Value $0.0001 Per Share	Common Units	$0.00			260,657	260,657	Direct
Class A Common Stock, Par Value $0.0001 Per Share	Common Units	$0.00			7,550	7,550	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	260,657	260,657	Direct
	7,550	7,550	Indirect

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 ofcommon units in i3 Verticals, LLC (the "Common Units").
Represents shares of Class A Common Stock held by Front Street Equities, LLC and First Avenue Partners II, L.P. Front Street Equities, LLC is the General Partner of, and exercises voting and investment power over shares held by, First Avenue Partners II, L.P. Voting and investment decisions at Front Street Equities, LLC are made by David Wilds, who serves as (a) a limited partner and managing member of First Avenue Partners II, L.P., and (b) the sole member of Front Street Equities, LLC. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his respective pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.51 to $25.36, inclusive. The reporting person undertakesto 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 pricewithin the ranges set forth in this footnote.
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") arecancelled 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.
Represents shares of Class B Common Stock held by Front Street Equities, LLC and First Avenue Partners II, L.P. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his respective pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.
This Form 4 shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any securities held solely by the Reporting Person's spouse.
The Common Units may be redeemed by the holder 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 redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled. The Common Units have no expiration date.
Represents Common Units held by Front Street Equities, LLC and First Avenue Partners II, L.P. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these Common Units in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.