Company: IIIV
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001728688-25-000006
Chunk: 62

Company: i3 Verticals, Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 62
---
 any of our future debt agreements.

Transfer Restrictions . The i3 Verticals LLC Agreement generally does not permit transfers of common units by members, except for transfers to permitted transferees, transfers pursuant to the participation right described below and transfers we approve in writing, as manager, and other limited exceptions. In the event of a permitted transfer under the i3 Verticals LLC Agreement, the transferring member is required to simultaneously transfer shares of Class B common stock to such transferee equal to the number of common units that the member transferred to such transferee in the permitted transfer.

<div align='center'>50</div>

Maintenance of One-to-one Ratio between Shares of Class A Common Stock and Common Units Owned by i3 Verticals, Inc. and One-to-one Ratio between Shares of Class B Common Stock and Common Units Owned by the Continuing Equity Owners . In connection with the IPO, we issued to each Continuing Equity Owner for nominal consideration one share of Class B common stock for each common unit of i3 Verticals, LLC that such Continuing Equity Owner owned prior to the IPO. The certificate of incorporation of i3 Verticals, Inc. and/or the i3 Verticals LLC Agreement require us to take all actions, including reclassifications, distributions, divisions, subdivisions, combinations, or recapitalizations, such that we at all times maintain (a) a one-to-one ratio between the number of outstanding shares of Class A common stock and the number of common units of i3 Verticals, LLC we own and (b) a one-to-one ratio between the number of outstanding shares of Class B common stock owned by the Continuing Equity Owners and the number of common units of i3 Verticals, LLC owned by the Continuing Equity Owners.

Dissolution . The i3 Verticals LLC Agreement provides that the consent of i3 Verticals, Inc. as the managing member of i3 Verticals, LLC and members holding a majority of the voting units is required to voluntarily dissolve i3 Verticals, LLC. In addition to a voluntary dissolution, i3 Verticals, LLC will be dissolved upon the entry of a decree of judicial dissolution or other circumstances in accordance with Delaware law. Upon a dissolution event, the proceeds of a liquidation will be distributed in the following order: (1) first, to pay the expenses of winding up i3 Verticals, LLC; (2) second, to pay debts and liabilities owed to creditors of i3 Verticals, LLC, other than members; and (3) third, to the members pro-rata