SEC Form 4 · accession 0000899243-16-023937
Planet Fitness, Inc. · PLNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Pierre LeComte
Director · 10% Owner
Period of report
Jun 28, 2016
Accepted (ET)
Jun 30, 2016 · 6:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001637207
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A common stockF1,F2,F3,F4,F5,F6 | Jun 28, 2016 | C | 7,521,047 | $0.00 | A | 28,594,032 | I | See footnotes |
| Class A common stockF3,F1,F2,F4,F5,F6 | Jun 28, 2016 | S | 11,129,887 | $15.7575 | D | 17,464,145 | I | See footnotes |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding Units and Class B common stockF1,F2,F3,F4,F5,F6 | — | Jun 28, 2016 | C | 7,521,047 | D | — | — | Class A common stock | 7,521,047 | 36,396,364 | I |
Explanation of responses
- F1On June 28, 2016, (i) TSG6 PF Investment LLC ("Investment") exchanged 6,483,501 Common Units of Pla-Fit Holdings, LLC ("Holding Units") and 6,483,501 shares of Class B common stock of Planet Fitness, Inc. (the "Company") for 6,483,501 shares of Class A common stock of the Company, and substantially simultaneously sold all 6,483,501 shares of Class A common stock of the Company to the underwriters in the Company's secondary offering, which closed on June 28, 2015 (the "Offering"), and (ii) TSG6 PF Investment II LLC ("Investment II") exchanged 1,037,546 Holding Units of Pla-Fit Holdings, LLC and 1,037,546 shares of Class B common stock of the Company for 1,037,546 shares of Class A common stock of the Company, and substantially simultaneously sold all 1,037,546 shares of Class A common stock of the Company to the underwriters in the Offering.
- F2(Continued from Footnote 1) Following such sales, Investment holds 31,375,403 Holding Units of Pla-Fit Holdings, LLC and 31,375,403 shares of Class B common stock of the Company and Investment II holds 5,020,961 Holding Units of Pla-Fit Holdings, LLC and 5,020,961 shares of Class B common stock of the Company.
- F3On June 28, 2016, (i) TSG6 AIV II-A L.P. ("AIV II-A") sold 1,710,005 shares of Class A common stock of the Company to the underwriters in the Offering and (ii) TSG6 PF Co-Investors A L.P. ("Co-Investors A") sold 1,898,835 shares of Class A common stock of the Company to the underwriters in the Offering. Following such sales, AIV II-A holds 8,275,174 shares of Class A common stock of the Company and Co-Investors A holds 9,188,971 shares of Class A common stock of the Company.
- F4Pursuant to the terms of the Exchange Agreement dated as of August 5, 2015, by and among the Company, Pla-Fit Holdings, LLC and the holders from time to time of Holding Units and shares of Class B common stock, Investment and Investment II may each exchange all or a portion of its Holding Units (along with an equal number of its Class B Shares) for shares of Class A common stock of the Company on a one-to-one basis. The Holding Units do not expire and holders thereof are not required to pay an exercise price in connection with exchanges. The Class B common stock provides the holder with one vote on all matters submitted to a vote of the Company's stockholders but does not entitle the holder to any of the economic rights associated with shares of the Company's Class A common stock.
- F5TSG6 Management L.L.C. is the general partner of each of AIV II-A, Co-Investors A and TSG6 AIV II L.P., which is the managing member of Investment and Investment II. Pierre LeComte is a Managing Member of TSG6 Management L.L.C. As a result, Mr. LeComte may be deemed to share voting and dispositive power with respect to the securities reported herein.
- F6Mr. LeComte disclaims beneficial ownership of the securities reported herein except to the extent of any pecuniary interest therein.
Remarks
R. Wallace Wertsch is signing on behalf of the Pierre LeComte pursuant to a Power of Attorney dated July 29, 2015, which was previously filed with the Securities and Exchange Commission.