Edward C Forst Form 4 Local Bounti / EDWARD C FORST ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FORST EDWARD C

(Last) (First) (Middle)

C/O LOCAL BOUNTI CORPORATION

400 W. MAIN ST.

(Street)

HAMILTON MT 59840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Local Bounti Corporation/DE [ LOCL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/03/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	01/03/2023		J(1)		704,153	A	(1)	730,194	D
Common Stock	01/03/2022		J(1)		726,844	A	(1)	726,844	I	By Forst GST LLC
Common Stock								474,489	I	By Wellfor LLC

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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
Warrants to purchase Common Stock	$11.5	01/03/2023		J(2)		495,000		12/19/2021	11/19/2026	Common Stock	495,000	$1.5	495,000	D
Warrants to purchase Common Stock	$11.5	01/03/2023		J(2)		510,952		12/19/2021	11/19/2026	Common Stock	510,952	$1.5	510,952	I	By Forst GST LLC
Warrants to purchase Common Stock	$11.5							12/03/2021	11/19/2026	Common Stock	21,912		21,912	D

Explanation of Responses:

1. Represents the distribution of shares of the Issuer's Common Stock by Leo Investors III LP ("Leo") pursuant to a pro rata distribution in-kind made in accordance with the exemption afforded by Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

2. Represents the distribution of warrants to purchase Common Stock of the Issuer by Leo pursuant to a pro rata distribution in-kind made in accordance with the exemption afforded by Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

Remarks:

	/s/ Edward C. Forst	01/05/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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