Sec Form 4 Filing - Partlow Robert G @ GreenSky, Inc. - 2019-08-08

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Partlow Robert G
2. Issuer Name and Ticker or Trading Symbol
GreenSky, Inc. [ GSKY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
EVP and CFO
(Last) (First) (Middle)
5565 GLENRIDGE CONNECTOR, SUITE 700
3. Date of Earliest Transaction (MM/DD/YY)
08/08/2019
(Street)
ATLANTA, GA30342
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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
Class A common stock 08/08/2019 M( 1 ) 400,000 A $ 5.65 539,731 D
Class A common stock 08/08/2019 F( 1 ) 328,224 D $ 7.6 ( 2 ) 211,507 D
Class B common stock 282,377.69 ( 3 ) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Stock Option (right to buy) $ 5.65 08/08/2019 M( 1 ) 400,000 ( 4 ) 11/11/2024 Class A common stock 500,000 $ 0 ( 4 ) 100,000 D
Holdco Units ( 5 ) ( 5 ) ( 5 ) Class A common stock 282,377.69 282,377.69 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Partlow Robert G
5565 GLENRIDGE CONNECTOR, SUITE 700
ATLANTA, GA30342
EVP and CFO
Signatures
/s/ Robert Partlow 08/12/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On August 8, 2019, the Reporting Person exercised an outstanding option to purchase 400,000 shares of Class A common stock. The option is subject to a cap of $7.60 per share (i.e., the maximum value that could be received upon exercise of the option is $7.60 per share). The Reporting Person received 71,776 shares of Class A common stock on "net exercise" of the option, and the Company withheld 328,224 shares of Class A common stock underlying the option for payment of the exercise price and tax withholdings (based on the closing price of $7.60 per share on the date the stock option was exercised).
( 2 )The price reported in Column 4 reflects the closing price on the date the stock option was exercised.
( 3 )The Class B common stock entitles holders to ten votes per share, votes as a single class with the Class A common stock, has no economic rights and is subject to forfeiture upon exchange of the Reporting Person's Holdco Units as described below.
( 4 )In the the reorganization of GreenSky Holdings, LLC ("GS Holdings") and the creation of the Issuer as a public holding company for GS Holdings (the "Reorganization"), capped options were equitably adjusted so that they would be exercisable for Class A common stock of the Issuer. Options awarded to the Reporting Person on November 11, 2014 represent the right to purchase 500,000 shares of Class A common stock with an exercise price of $5.649 per unit and a cap of $7.60 per unit. The options vest at the rate of 20% per year on the anniversary of the grant date and will fully vest on November 11, 2019, provided that he remains an employee of the Issuer through that date.
( 5 )Pursuant to the Exchange Agreement, dated May 23, 2018, by and among the Issuer, GS Holdings and the members of GS Holdings, the Holdco Units may be exchanged by the Reporting Person (with automatic cancellation of an equal number of shares of Class B common stock) for shares of Class A common stock on a one-for-one basis, subject to customary adjustments for stock splits, stock dividends, reclassifications and other similar transactions, stock repurchases and other reinvestments of excess cash, or for cash (based on the market price of the shares of Class A common stock), at the Issuer's option.

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