Company: PIII
Filing Date: 2025-02-20
Form Type: PRE 14A
Source: 0001140361-25-005269
Chunk: 20

Company: P3 Health Partners Inc.
Filing Date: 2025-02-20
Form: PRE 14A
Chunk 20
---
 under the Plans. If the Reverse Stock Split is approved by our stockholders and our Board decides to implement the Reverse Stock Split, as of the Effective Time (as defined below), (i) the number of shares issuable upon exercise, vesting or settlement of such awards under the Plans will be proportionately reduced based on the Reverse Stock Split ratio selected by our Board and (ii) any per share exercise price and/or any stock price goals applicable to such awards will be proportionately increased based on the Reverse Stock Split ratio selected by our Board, subject, in each case, to the terms of such Plan and the applicable award agreement. In addition, the number of shares available for future issuance and any share-based award limits under the Plans will be proportionately reduced based on the Reverse Stock Split ratio selected by our Board.

Effect on Outstanding Warrants

As of January 31, 2025, we have outstanding warrants to purchase 246,509,131 shares of our Class A common stock. If the Reverse Stock Split is approved and implemented, under the terms of the applicable warrant agreements, at the Effective Time, proportional adjustments, based on the final split ratio determined by the Board, will be made to the per share exercise price and the number of shares of Class A common stock issuable upon the exercise of all of our outstanding warrants. This would result in approximately the same aggregate price being required to be paid under such warrants upon exercise, and approximately the same value of shares of Class A common stock being delivered upon such exercise immediate following the Reverse Stock Split as was the case immediately preceding the Reverse Stock Split. The number of shares of Class A common stock reserved for issuance upon the exercise of the outstanding warrants will be adjusted proportionately based upon the final split ratio determined by the Board in effecting the Reverse Stock Split, subject to our treatment of fractional shares. The terms of our outstanding warrants do not permit issuance of fractional shares upon exercise of such warrants.

#### Effects of the Amendment on our Common Stock
After the Effective Time, each stockholder will own fewer shares of our common stock (and corresponding P3 LLC Units) as a result of the Reverse Stock Split. Because the Reverse Stock Split will decrease the number

<div align='center'>12</div>

TABLE OF CONTENTS

of outstanding shares of our common stock, the proposed amendments will result in a relative increase in the number of authorized and unissued shares of our common stock. All outstanding options to purchase shares of our common stock, including any held by our officers and directors, would