Local Bounti (LOCL) Form 144 Discloses Insider-Affiliated Sales

Rhea-AI Filing Summary

Local Bounti Corporation (LOCL) Form 144 notice discloses a proposed sale of 585 common shares through Morgan Stanley Smith Barney LLC on 09/02/2025, with an aggregate market value of $1,347.84. The filing states 22,123,010 shares outstanding. The 585 shares were acquired as a gift from Wheat Wind Farms LLC on 12/28/2022; the donor acquired those shares on 11/19/2021. The filing also lists multiple recent sales by KEBS TRUST between 07/09/2025 and 08/29/2025, including a largest single block of 3,500 shares on 07/10/2025, with gross proceeds shown for each trade. The filer certifies no undisclosed material adverse information.

Positive

• Full disclosure of planned sale including broker, share count, and market value
• Source of shares documented (gift from Wheat Wind Farms LLC on 12/28/2022)
• Detailed record of recent sales by KEBS TRUST with dates and gross proceeds, improving transparency

Negative

• Ongoing selling by related trust (multiple trades from 07/09/2025 to 08/29/2025) could indicate pressure on free float
• Issuer name details missing in filing body (issuer fields blank in the provided content), which limits standalone clarity

Insights

Securities Analyst

TL;DR: Routine Rule 144 sale notice showing modest insider-affiliated disposals; appears to be orderly, disclosed liquidations rather than sudden material events.

The Form 144 documents a planned sale of 585 shares and a series of prior sales by an affiliated trust across July–August 2025. The sizes and proceeds shown (largest single trade of 3,500 shares on 07/10/2025) suggest recurring, staggered selling activity rather than a one-time large block. With 22,123,010 shares outstanding, the single 585-share proposed sale and the individual prior trades represent de minimis percentages of outstanding stock, limiting immediate market impact. Disclosure is consistent with compliance under Rule 144 and provides transparency on source (a gift) and broker routing.

Corporate Governance Expert

TL;DR: Filing is a standard compliance disclosure; repeated sales by related parties merit monitoring but are not on their face a governance breach.

The notice identifies the securities' acquisition as a gift from an affiliate and lists multiple recent dispositions by KEBS TRUST. From a governance perspective, regular filings and the signature representation that no material nonpublic information exists are appropriate. The pattern of periodic sales should prompt review of any related-party arrangements and trading plans, but the Form 144 itself contains no allegation of improper conduct.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	585	1347.84	22123010	09/02/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/28/2022	Gift from Affiliate	Wheat Wind Farms LLC		11/19/2021	585		NA

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/29/2025	531	1260.49
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/28/2025	300	732.00
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/27/2025	226	545.16
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/26/2025	400	975.08
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/25/2025	500	1223.40
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/22/2025	1400	3396.40
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/21/2025	800	1993.04
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/20/2025	300	754.56
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/13/2025	800	2058.08
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/12/2025	340	857.68
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/11/2025	242	617.39
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/08/2025	480	1195.44
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/07/2025	400	990.00
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/06/2025	1000	2496.20
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/05/2025	500	1288.95
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/04/2025	200	536.96
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	08/01/2025	2312	6254.88
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/31/2025	100	316.00
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/30/2025	600	2008.50
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/29/2025	500	1725.00
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/11/2025	1300	3347.37
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/10/2025	3500	9261.35
KEBS TRUST 490 Foley Lane Hamilton MT 59840	Common	07/09/2025	200	602.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the LOCL Form 144 disclose?

The filing discloses a proposed sale of 585 common shares via Morgan Stanley on 09/02/2025 with an aggregate market value of $1,347.84 and lists recent sales by KEBS TRUST.

Who acquired the shares being sold in the LOCL Form 144?

The 585 shares were acquired as a gift from Wheat Wind Farms LLC on 12/28/2022; the donor acquired them on 11/19/2021.

How many shares outstanding does the Form 144 report for LOCL?

The filing shows 22,123,010 shares outstanding.

Were there recent related-party sales reported for LOCL?

Yes; KEBS TRUST reported multiple sales between 07/09/2025 and 08/29/2025, including a 3,500-share sale on 07/10/2025.

Does the filer claim any undisclosed material information?

The filer represents by signature that they do not know of any material adverse information about the issuer that has not been publicly disclosed.