Latch director linked entity forfeits 738K shares
Latch, Inc. director Robert J. Speyer reported an indirect disposition of 738,000 shares of unvested restricted common stock that were forfeited by TS Innovation Acquisitions Sponsor, L.L.C. to Latch, Inc. pursuant to a Sponsor Agreement.
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Form Type
4
Rhea-AI Filing Summary
Latch, Inc. director Robert J. Speyer reported an indirect disposition of 738,000 shares of unvested restricted common stock that were forfeited by TS Innovation Acquisitions Sponsor, L.L.C. to Latch, Inc. pursuant to a Sponsor Agreement. No consideration was received for this forfeiture.
After these updates, Speyer reports 161,464 shares of common stock held directly and 217,631 shares held indirectly through Innovation Club Latch Holding, L.L.C. He is also associated with 6,642,000 shares held indirectly by TS Innovation Acquisitions Sponsor, L.L.C., over which he may share voting and investment power but disclaims beneficial ownership except for any pecuniary interest.
Insider Trade Summary
Disposition: 738,000 shares
Disposition
3 txns
Insider
Speyer Robert J.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 738,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 6,642,000 shares (Indirect, By TS Innovation Acquisitions Sponsor, L.L.C.);
Common Stock — 217,631 shares (Indirect, By Innovation Club Latch Holding, L.L.C.);
Common Stock — 161,464 shares (Direct)
Footnotes (4)
- F1. Represents the forfeiture of 738,000 shares of unvested restricted common stock pursuant to the terms of the Sponsor Agreement between TS Innovation Acquisitions Sponsor, L.L.C. and TS Innovation Acquisitions Corp. and Latch, Inc. dated January 24, 2021. No consideration was received in connection with the forfeiture.
- F2. The sole manager of TS Innovation Acquisitions Sponsor, L.L.C. is Tishman Speyer Properties, L.P. The general partner of Tishman Speyer Properties, L.P. is Tishman Speyer Properties, Inc. The Reporting Person is a co-trustee of a voting trust that holds all voting common stock in Tishman Speyer Properties, Inc. and therefore may be deemed to share voting and investment power with respect to the securities reported herein. The Reporting Person disclaims any beneficial ownership of such securities, except to the extent of any pecuniary interest therein.
- F3. Speyer GP Holdings, LLC is the general partner of Madison Rock Investment, LP, which is the managing member of Innovation Club Latch Holdings, L.L.C. The Reporting Person is a managing member of Speyer GP Holdings, LLC. As a result, the Reporting Person may be deemed to share beneficial ownership over the shares held by Innovation Club Latch Holding, L.L.C., but disclaims beneficial ownership except to the extent of any pecuniary interests therein.
- F4. Represents shares of common stock acquired upon settlement of previously reported restricted stock units. All vesting conditions applicable to such restricted stock units have been satisfied.
Key Figures
Forfeited restricted shares: 738,000 shares
Forfeiture price: $0.0000 per share
Indirect holdings via Sponsor: 6,642,000 shares
+2 more
5 metrics
Forfeited restricted shares
738,000 shares
Unvested restricted common stock forfeited to issuer
Forfeiture price
$0.0000 per share
No consideration received for forfeited shares
Indirect holdings via Sponsor
6,642,000 shares
Held by TS Innovation Acquisitions Sponsor, L.L.C. after forfeiture
Direct holdings
161,464 shares
Shares held directly by Robert J. Speyer
Indirect holdings via Innovation Club
217,631 shares
Held indirectly through Innovation Club Latch Holding, L.L.C.
Key Terms
restricted common stock, Sponsor Agreement, beneficial ownership, pecuniary interest, +1 more
5 terms
restricted common stock financial
"Represents the forfeiture of 738,000 shares of unvested restricted common stock pursuant to the terms of the Sponsor Agreement"
Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.
Sponsor Agreement financial
"pursuant to the terms of the Sponsor Agreement between TS Innovation Acquisitions Sponsor, L.L.C. and TS Innovation Acquisitions Corp. and Latch, Inc."
beneficial ownership financial
"may be deemed to share voting and investment power with respect to the securities reported herein. The Reporting Person disclaims any beneficial ownership of such securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims any beneficial ownership of such securities, except to the extent of any pecuniary interest therein"
voting trust financial
"The Reporting Person is a co-trustee of a voting trust that holds all voting common stock in Tishman Speyer Properties, Inc."
A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Robert J. Speyer report at Latch (LTCH)?
Robert J. Speyer reported an indirect disposition of 738,000 shares of unvested restricted common stock forfeited by TS Innovation Acquisitions Sponsor, L.L.C. to Latch, Inc. The forfeiture occurred under a Sponsor Agreement and no consideration was received for the shares.
What are Robert J. Speyer’s indirect Latch (LTCH) holdings after the Form 4?
After the filing, Speyer reports 217,631 Latch common shares held indirectly through Innovation Club Latch Holding, L.L.C. In addition, 6,642,000 shares are held indirectly by TS Innovation Acquisitions Sponsor, L.L.C., where he may share voting power but disclaims full beneficial ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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