{"transactions":[{"id":1078432,"issuer":{"id":7602,"kind":"organization","name":"System1, Inc."},"owners":[{"id":77047,"kind":"person","name":"Ursini Charles","position":1,"cik":"0002018813","reported_name":"Ursini Charles","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"President & COO"}}],"security":"Class A Common Stock","published_at":"2025-07-31T22:18:32.000Z","date":"2025-07-29","kind":"grant","planned":false,"acquired":true,"shares":337500,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"The Reporting Person was granted 337,500 restricted stock units (\"RSUs\") in connection with his continued employment with System1, Inc. (\"SST\"). Each RSU represents the right to receive one share of SST Class A Common Stock upon vesting. Subject to the continued employment of Mr. Ursini through the applicable vesting date, one-third of the RSUs will vest on July 15, 2026, and the remaining two-thirds will vest in 8 substantially equal quarterly installments on each quarterly anniversary thereafter."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"Includes 337,500 unvested RSUs."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"Represents the total number of shares held after the Issuer's completion of a 1-for-10 reverse stock split that occurred on June 11, 2025."}],"balance_after":367500,"source":{"system":"sec-edgar","filing":"0002018813-25-000002","document":"wk-form4_1754000308.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1805833/000201881325000002/wk-form4_1754000308.xml","form_type":"4"}},{"id":1460164,"issuer":{"id":7602,"kind":"organization","name":"System1, Inc."},"owners":[{"id":77047,"kind":"person","name":"Ursini Charles","position":1,"cik":"0002018813","reported_name":"Ursini Charles","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"President & COO"}}],"security":"Stock Appreciation Rights","published_at":"2024-07-04T01:07:04.000Z","date":"2024-07-01","kind":"grant","planned":false,"acquired":true,"shares":2500000,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"These stock appreciation rights (these \"SARs\") were granted to the Reporting Person pursuant to the System1, Inc. 2024 Stock Appreciation Rights Plan, as amended (the \"Plan\") and a corresponding Stock Appreciation Rights Grant Notice and Award Agreement between System1, Inc. (the \"Issuer\") and the Reporting Person.   The SARs reported on this Form 4 represent the right to receive (at the Issuer's discretion), upon exercise of the SARs by the Reporting Person, a payment in either (x) Class A Common Stock, par value $0.0001 per share (\"Class A Common Stock\") or (y) cash, in the amount equal to the number of shares of Class A Common Stock underlying the number of SARs being exercised multiplied by the excess of the fair market value of one share of Class A Common Stock on (i) the date the SARs are exercised, and (ii) $1.44, the Issuer's closing price on July 1, 2024 (the date the SARs were granted, the \"Grant Date\")."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"These Stock Appreciation Rights (\"SARs\") were granted to the Reporting Person on July 1, 2024 under the System1, Inc. 2024 Stock Appreciation Rights Plan, as amended (the \"Plan\") and vest (i) 25% upon the Issuer first achieving trailing twelve month Adjusted EBITDA (\"TTM Adjusted EBITDA\") of $50.0 million after the date of grant, (ii) 25% upon the Issuer first achieving TTM Adjusted EBITDA of $60.0 million after the date of grant, (iii) 25% upon the Issuer first achieving TTM Adjusted EBITDA of $70.0 million after the date of grant and (iv) 25% upon the Issuer first achieving TTM Adjusted EBITDA of $80.0 million after the date of grant, in each case, subject to the terms of the Plan and an award agreement entered into between the Reporting Person and the Issuer pursuant to the Plan."}],"balance_after":2500000,"derivative":{"exercise_price":1.44,"expiration_date":"2031-07-01","underlying":"Class A Common Stock","underlying_shares":2500000},"source":{"system":"sec-edgar","filing":"0001628280-24-031215","document":"wk-form4_1720055217.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1805833/000162828024031215/wk-form4_1720055217.xml","form_type":"4"}}]}