[Form 3] Torrid Holdings Inc. Initial Statement of Beneficial Ownership
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Fund 1 Investments, LLC, PLP Funds Master Fund LP, Pleasant Lake Partners LLC
Role
10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Cash-Settled Total Return Swap | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Cash-Settled Total Return Swap — 3,780,255 shares (Indirect, See Footnotes);
Common stock, par value $0.01 per share — 10,424,612 shares (Indirect, See Footnotes)
Footnotes (3)
- F1. Securities reported herein are held for the benefit of PLP Funds Master Fund LP, a private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
- F2. The Reporting Persons have entered into cash-settled total return swaps (the "Swap Agreements") with unaffiliated third-party financial institutions, which provide the Reporting Persons with economic exposure to an aggregate of 3,780,255 notional shares, and expire on a range of dates from March 2, 2026 to November 1, 2027. The Swap Agreements provide the Reporting Persons with economic results that are comparable to the economic results of ownership but do not provide the Reporting Persons with the power to vote or direct the voting or dispose of or direct the disposition of the shares of common stock that are the subject of the Swap Agreements (the "Subject Shares"). Each of the Reporting Persons disclaims beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein.
- F3. The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
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