Sec Form 3 Filing - Technology Crossover Management VIII, Ltd. @ Payoneer Global Inc. - 2021-06-25

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FORM 3
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
Technology Crossover Management VIII, Ltd.
2. Issuer Name and Ticker or Trading Symbol
Payoneer Global Inc. [ PAYO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
May be part of a 13(d) group
(Last) (First) (Middle)
C/O TCV, 250 MIDDLEFIELD ROAD
3. Date of Earliest Transaction (MM/DD/YY)
06/25/2021
(Street)
MENLO PARK, CA94025
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
Common Stock 41,697,116 ( 1 ) I See footnotes ( 2 ) ( 5 )
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
Earnout Rights ( 3 ) ( 4 ) ( 3 )( 4 ) 06/25/2026 Common Stock 4,888,878 I See footnotes ( 2 ) ( 5 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Technology Crossover Management VIII, Ltd.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of a 13(d) group
Technology Crossover Manangement VIII, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of a 13(d) group
TCV VIII, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of a 13(d) group
TCV VIII (A), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of a 13(d) group
TCV VIII (B), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of a 13(d) group
TCV Member Fund, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of a 13(d) group
Marshall Christopher P
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X
Signatures
/s/ Frederic D. Fenton, Authorized Signatory for Technology Crossover Management VIII, Ltd. 07/06/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Includes 29,665,110 shares held directly by TCV VIII, L.P., 7,999,744 shares held directly by TCV VIII (A), L.P., 1,842,451 shares held directly by TCV VIII (B), L.P. and 2,189,811 shares held directly by TCV Member Fund, L.P.
( 2 )Technology Crossover Management VIII, Ltd. ("Management VIII") is the sole general partner of Technology Crossover Management VIII, L.P. ("TCM"), which in turn is the sole general partner of TCV VIII, L.P., TCV VIII (A), L.P. and TCV VIII (B), L.P. Management VIII is also a general partner of TCV Member Fund, L.P. Christopher P. Marshall, a Class A Director of Management VIII and a limited partner of TCM VIII and TCV Member Fund, L.P., serves as a director of the issuer and may have limited partner or other interests in one or more of the other entities described in this footnote 2.
( 3 )Earnout Rights acquired pursuant to the Agreement and Plan of Reorganization, dated as of February 3, 2021, as amended on February 16, 2021, May 10, 2021 and June 22, 2021 (the "Reorganization Agreement"), by and among New Starship Parent, Inc., which subsequently changed its name to Payoneer Global Inc., Starship Merger Sub I Inc., Starship Merger Sub II, Inc., Payoneer Inc. and FTAC Olympus Acquisition Corp. Pursuant to earnout provisions in the Reorganization Agreement, TCV VIII, L.P., TCV VIII (A), L.P., TCV VIII (B), L.P. and TCV Member Fund, L.P. are entitled to receive 3,478,158, 937,949, 216,022 and 256,749 shares of Common Stock, respectively, if from June 25, 2021 until the fifth anniversary thereof, the closing per share price of Common Stock exceeds certain thresholds as discussed below.
( 4 )Of these Earnout Rights, one-half will be issued if the closing per share price of Common Stock is greater than or equal to $15.00 for any 20 trading days within any 30 trading day period within the first 30 months following June 25, 2021, and one-half will be issued if the closing per share price of Common Stock is greater than or equal to $17.00 for any 20 trading days within any 30 trading day period within the first 60 months following June 25, 2021. The issuance of such shares are subject to certain adjustments, including pro rata adjustments, as set forth in the Reorganization Agreement.
( 5 )Each of the entities and individual described above are referred to herein as "Reporting Persons." Each Reporting Person disclaims Section 16 beneficial ownership of the shares reported herein except to the extent of its or his respective pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or any other purpose.

Remarks:
Exhibit 99.1 (Signatures and Joint Filer Information)

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