Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 78

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 78
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 Effective Time will be converted into and thereafter evidence the right to receive in cash the Series A Liquidation Preference.

Pursuant to the terms of the Merger Agreement, in the event that the closing date occurs after the Profit Sharing Fee Start Date, Purchaser will additionally be required to pay to the Fortegra equityholders the Aggregate Delayed Closing Consideration.

Fortegra warrants will either be exercised on a cashless basis automatically immediately prior to the Effective Time pursuant to their terms or cancelled at the Effective Time for no consideration, whether or not such cancellation happens pursuant to their terms. Fortegra warrants that are so exercised will be converted into and thereafter evidence the right to receive, without interest, an amount in cash equal to (A) the Per Share Closing Merger Consideration plus (B) the applicable Pro Rata Percentage of the Leakage Delayed Consideration (if any), which in the case of a holder of Fortegra common stock that is a Minority Investor, will be reduced by such holder’s Pro Rata Percentage of the Equityholders’ Representative Expense Amount.

Prior to the Effective Time, the Fortegra Board (or, if appropriate, any committee thereof administering the Fortegra Equity Plan) will adopt resolutions or take such other actions as may be required to cause each Fortegra stock option and each Fortegra RSU award that is outstanding and unvested immediately prior to the Effective Time, whether or not then subject to any performance or other condition, to accelerate and vest at the Effective Time, with the performance conditions applicable to the Fortegra stock options deemed achieved as determined by Fortegra.

At the Effective Time, each such vested Fortegra RSU award will, by virtue of the Merger, be cancelled, and in full consideration of such cancellation, will be converted into and thereafter evidence the right to receive, without interest and less applicable tax withholding, an amount in cash equal to (i) (A) the Per Share Closing Merger Consideration multiplied by (B) the number of Fortegra shares subject to such vested Fortegra RSU award plus (ii) the Leakage Delayed Consideration attributable to such Fortegra shares (if any), and (iii) minus, in the case of each of the Minority Investors, such holder’s Pro Rata Percentage of the Equityholders’ Representative Expense Amount, attributable to such Fortegra shares.

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At the Effective Time, each such vested Fortegra stock option will, by virtue of the Merger, be cancelled, and