Sec Form 4 Filing - Rozek Alexander Buffett @ Yellowstone Acquisition Co - 2020-11-16

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 Rozek Alexander Buffett 2. Issuer Name and Ticker or Trading Symbol Yellowstone Acquisition Co [ YSACU] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) Co-Chairman, Co-CEO, Co-Pres. (Last) (First) (Middle) C/O BOC YELLOWSTONE LLC, 1601 DODGE STREET, SUITE 3300 3. Date of Earliest Transaction (MM/DD/YY) 11/16/2020 (Street) OMAHA, NE68102 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ 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

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 Class B common stock, par value $0.001 per share ( 1 ) 11/16/2020 J( 2 ) 206,250 ( 1 ) ( 1 ) Class A common stock, par value $0.001 per share 206,250 ( 1 ) ( 2 ) 3,593,750 ( 3 ) I See Footnote ( 2 ) Class B common stock, par value $0.001 per share ( 1 ) 11/16/2020 J( 2 ) 206,250 ( 1 ) ( 1 ) Class A common stock, par value $0.001 per share 206,250 ( 1 ) ( 2 ) 3,593,750 ( 3 ) I See Footnote ( 2 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Rozek Alexander Buffett C/O BOC YELLOWSTONE LLC 1601 DODGE STREET, SUITE 3300 OMAHA, NE68102 X X Co-Chairman, Co-CEO, Co-Pres. BOC Yellowstone LLC 1601 DODGE STREET, SUITE 3300 OMAHA, NE68102 X BOC Yellowstone II LLC C/O BOC YELLOWSTONE LLC 1601 DODGE STREET, SUITE 3300 OMAHA, NE68102 X BOSTON OMAHA Corp 1601 DODGE STREET, SUITE 3300 OMAHA, NE68102 X Signatures /s/ Alex B. Rozek 11/18/2020 Signature of Reporting Person Date BOC Yellowstone LLC, By: /s/ Alex B. Rozek, its Manager 11/18/2020 Signature of Reporting Person Date BOC Yellowstone II LLC, By: BOC Yellowstone, LLC, its Managing Member By: /s/ Alex B. Rozek, its Manager 11/18/2020 Signature of Reporting Person Date Boston Omaha Corporation By: /s/ Alex B. Rozek, its Co-Chief Executive Officer 11/18/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Class B common stock will automatically convert into the Issuer's Class A common stock at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and has no expiration date. ( 2 )On November 16, 2020, BOC Yellowstone LLC transferred to BOC Yellowstone II LLC, its wholly owned subsidiary, 206,250 shares of Class B common stock for no consideration. Following such transfer, 206,250 of the reported shares and their applicable underlying derivative securities are held directly by BOC Yellowstone II LLC and the remaining reported shares and derivative securities are held directly by BOC Yellowstone LLC. BOC Yellowstone LLC is the sole managing member of BOC Yellowstone II LLC, and Adam K. Peterson and Alex B. Rozek are the managers of BOC Yellowstone LLC, which is owned by Boston Omaha Corporation. As such, they may be deemed to have or share beneficial ownership of the Class B common stock held directly by BOC Yellowstone LLC and BOC Yellowstone II LLC. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly. ( 3 )Includes up to 468,750 shares of Class B common stock held directly by BOC Yellowstone LLC that are subject to forfeiture if the underwriters in the Issuer's initial public offering do not exercise their over-allotment option in full or in part. The amount of 3,593,750 shares of Class B common stock corrects the total of 4,312,500 shares of Class B common stock as reported on the Reporting Persons' Form 3 filed with the Securities and Exchange Commission on October 21, 2020. Subsequent to the filing of such Form 3 but prior to the effectiveness of the Issuer's initial public offering, the 4,312,500 share figure was reduced to 3,593,750 shares when the size of the Issuer's initial public offering was reduced.

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