{"transactions":[{"id":1188034,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1756,"kind":"person","name":"Snow Phipps Group (B), L.P.","position":6,"cik":"0001696783","reported_name":"Snow Phipps Group (B), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1755,"kind":"person","name":"SPG Co-Investment, L.P.","position":7,"cik":"0001696702","reported_name":"SPG Co-Investment, L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant (right to buy)","published_at":"2025-03-31T17:31:15.000Z","date":"2025-03-27","kind":"exercise","planned":false,"acquired":false,"shares":446389,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Cashless exercise of all of the Warrants."},{"field":"shares","element":"transactionShares","label":"F3","text":"Represents in the aggregate directly held Warrants exercised for shares of Common Stock, as follows: 420,704 shares by SPG AIV; 21,908 shares by SPG RPV; and 3,777 shares by SPG AIV Offshore."},{"field":"price","element":"transactionPricePerShare","label":"F4","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F3","text":"Represents in the aggregate directly held Warrants exercised for shares of Common Stock, as follows: 420,704 shares by SPG AIV; 21,908 shares by SPG RPV; and 3,777 shares by SPG AIV Offshore."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"This Form 4 is being filed by and behalf of: Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group (B), L.P. (\"SPG B\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and SPG Co-Investment, L.P. (\"SPG Co-Investment\") (collectively, the \"SPG Fund Entities\"); SPG GP, LLC, the general partner of each of the SPG Fund Entities (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F8","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one or more of of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":0,"derivative":{"exercise_price":4.94,"exercise_date":"2020-08-13","expiration_date":"2025-05-07","underlying":"Common Stock","underlying_shares":446389},"source":{"system":"sec-edgar","filing":"0001140361-25-011426","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125011426/form4.xml","form_type":"4"}},{"id":1188033,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1756,"kind":"person","name":"Snow Phipps Group (B), L.P.","position":6,"cik":"0001696783","reported_name":"Snow Phipps Group (B), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1755,"kind":"person","name":"SPG Co-Investment, L.P.","position":7,"cik":"0001696702","reported_name":"SPG Co-Investment, L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant (right to buy)","published_at":"2025-03-31T17:31:15.000Z","date":"2025-03-27","kind":"exercise","planned":false,"acquired":false,"shares":892777,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Cashless exercise of all of the Warrants."},{"field":"shares","element":"transactionShares","label":"F2","text":"Represents in the aggregate directly held Private Placement Warrants (\"Warrants\") exercised for shares of Common Stock, as follows: 841,408 shares by SPG AIV; 43,815 shares by SPG RPV; and 7,554 shares by SPG AIV Offshore."},{"field":"price","element":"transactionPricePerShare","label":"F4","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F2","text":"Represents in the aggregate directly held Private Placement Warrants (\"Warrants\") exercised for shares of Common Stock, as follows: 841,408 shares by SPG AIV; 43,815 shares by SPG RPV; and 7,554 shares by SPG AIV Offshore."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"This Form 4 is being filed by and behalf of: Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group (B), L.P. (\"SPG B\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and SPG Co-Investment, L.P. (\"SPG Co-Investment\") (collectively, the \"SPG Fund Entities\"); SPG GP, LLC, the general partner of each of the SPG Fund Entities (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F8","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one or more of of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":0,"derivative":{"exercise_price":2.96,"exercise_date":"2020-08-13","expiration_date":"2025-05-07","underlying":"Common Stock","underlying_shares":892777},"source":{"system":"sec-edgar","filing":"0001140361-25-011426","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125011426/form4.xml","form_type":"4"}},{"id":1188032,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1756,"kind":"person","name":"Snow Phipps Group (B), L.P.","position":6,"cik":"0001696783","reported_name":"Snow Phipps Group (B), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1755,"kind":"person","name":"SPG Co-Investment, L.P.","position":7,"cik":"0001696702","reported_name":"SPG Co-Investment, L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Common Stock","published_at":"2025-03-31T17:31:15.000Z","date":"2025-03-27","kind":"tax_withholding","planned":false,"acquired":false,"shares":258828,"price":18.73,"value":4847848.44,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Cashless exercise of all of the Warrants."},{"field":"shares","element":"transactionShares","label":"F6","text":"The cashless exercise resulted in the withholding of Common Stock by the Issuer of (i) 243,933 shares for SPG AIV, (ii) 12,704 shares for SPG RPV, and (iii) 2,191 shares for SPG AIV Offshore, in each case, determined using the last sale price of the Common Stock on March 27, 2025, of $18.73 per share, pursuant to the terms of the Warrants."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"This Form 4 is being filed by and behalf of: Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group (B), L.P. (\"SPG B\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and SPG Co-Investment, L.P. (\"SPG Co-Investment\") (collectively, the \"SPG Fund Entities\"); SPG GP, LLC, the general partner of each of the SPG Fund Entities (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Following the cashless exercise of all the Warrants, represents in the aggregate shares of Common Stock directly held as follows: 12,339,174 shares by SPG AIV; 642,654 shares by SPG RPV; 61,719 shares by SPG B; 260,705 shares by SPG AIV Offshore; and 48,851 shares by SPG Co-Investment."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F8","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one or more of of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":13353103,"source":{"system":"sec-edgar","filing":"0001140361-25-011426","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125011426/form4.xml","form_type":"4"}},{"id":1188031,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1756,"kind":"person","name":"Snow Phipps Group (B), L.P.","position":6,"cik":"0001696783","reported_name":"Snow Phipps Group (B), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1755,"kind":"person","name":"SPG Co-Investment, L.P.","position":7,"cik":"0001696702","reported_name":"SPG Co-Investment, L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Common Stock","published_at":"2025-03-31T17:31:15.000Z","date":"2025-03-27","kind":"exercise","planned":false,"acquired":true,"shares":446389,"price":4.94,"value":2205161.66,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Cashless exercise of all of the Warrants."},{"field":"shares","element":"transactionShares","label":"F3","text":"Represents in the aggregate directly held Warrants exercised for shares of Common Stock, as follows: 420,704 shares by SPG AIV; 21,908 shares by SPG RPV; and 3,777 shares by SPG AIV Offshore."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"This Form 4 is being filed by and behalf of: Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group (B), L.P. (\"SPG B\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and SPG Co-Investment, L.P. (\"SPG Co-Investment\") (collectively, the \"SPG Fund Entities\"); SPG GP, LLC, the general partner of each of the SPG Fund Entities (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Following the cashless exercise of all the Warrants, represents in the aggregate shares of Common Stock directly held as follows: 12,339,174 shares by SPG AIV; 642,654 shares by SPG RPV; 61,719 shares by SPG B; 260,705 shares by SPG AIV Offshore; and 48,851 shares by SPG Co-Investment."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F8","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one or more of of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":13611931,"source":{"system":"sec-edgar","filing":"0001140361-25-011426","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125011426/form4.xml","form_type":"4"}},{"id":1188030,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1756,"kind":"person","name":"Snow Phipps Group (B), L.P.","position":6,"cik":"0001696783","reported_name":"Snow Phipps Group (B), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1755,"kind":"person","name":"SPG Co-Investment, L.P.","position":7,"cik":"0001696702","reported_name":"SPG Co-Investment, L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Common Stock","published_at":"2025-03-31T17:31:15.000Z","date":"2025-03-27","kind":"exercise","planned":false,"acquired":true,"shares":892777,"price":2.96,"value":2642619.92,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Cashless exercise of all of the Warrants."},{"field":"shares","element":"transactionShares","label":"F2","text":"Represents in the aggregate directly held Private Placement Warrants (\"Warrants\") exercised for shares of Common Stock, as follows: 841,408 shares by SPG AIV; 43,815 shares by SPG RPV; and 7,554 shares by SPG AIV Offshore."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"This Form 4 is being filed by and behalf of: Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group (B), L.P. (\"SPG B\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and SPG Co-Investment, L.P. (\"SPG Co-Investment\") (collectively, the \"SPG Fund Entities\"); SPG GP, LLC, the general partner of each of the SPG Fund Entities (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Following the cashless exercise of all the Warrants, represents in the aggregate shares of Common Stock directly held as follows: 12,339,174 shares by SPG AIV; 642,654 shares by SPG RPV; 61,719 shares by SPG B; 260,705 shares by SPG AIV Offshore; and 48,851 shares by SPG Co-Investment."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F8","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one or more of of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":13165542,"source":{"system":"sec-edgar","filing":"0001140361-25-011426","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125011426/form4.xml","form_type":"4"}},{"id":1215136,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant","published_at":"2025-03-10T19:44:03.000Z","date":"2025-03-06","kind":"grant","planned":false,"acquired":true,"shares":446389,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"kind","element":"transactionCoding","label":"F1","text":"On March 6, 2025, the Issuer amended each Private Placement Warrant (\"Warrant\") held by each of Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and Snow Phipps Group (RPV), L.P. (\"SPG RPV\") (collectively, the \"Warrantholders\") to extend the existing expiration date for the exercise of the Warrants from April 7, 2025, to May 7, 2025."},{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"kind","element":"transactionCoding","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."},{"field":"shares","element":"transactionShares","label":"F4","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows: 420,704 shares by SPG AIV; 3,777 shares by SPG AIV Offshore; 21,908 shares by SPG RPV."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F4","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows: 420,704 shares by SPG AIV; 3,777 shares by SPG AIV Offshore; 21,908 shares by SPG RPV."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F4","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows: 420,704 shares by SPG AIV; 3,777 shares by SPG AIV Offshore; 21,908 shares by SPG RPV."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":446389,"derivative":{"exercise_price":4.94,"exercise_date":"2020-08-13","expiration_date":"2025-05-07","underlying":"Common Stock","underlying_shares":446389},"source":{"system":"sec-edgar","filing":"0001140361-25-007915","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125007915/form4.xml","form_type":"4"}},{"id":1215135,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant","published_at":"2025-03-10T19:44:03.000Z","date":"2025-03-06","kind":"disposition_to_issuer","planned":false,"acquired":false,"shares":446389,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"kind","element":"transactionCoding","label":"F1","text":"On March 6, 2025, the Issuer amended each Private Placement Warrant (\"Warrant\") held by each of Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and Snow Phipps Group (RPV), L.P. (\"SPG RPV\") (collectively, the \"Warrantholders\") to extend the existing expiration date for the exercise of the Warrants from April 7, 2025, to May 7, 2025."},{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"kind","element":"transactionCoding","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."},{"field":"shares","element":"transactionShares","label":"F4","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows: 420,704 shares by SPG AIV; 3,777 shares by SPG AIV Offshore; 21,908 shares by SPG RPV."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F4","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows: 420,704 shares by SPG AIV; 3,777 shares by SPG AIV Offshore; 21,908 shares by SPG RPV."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":0,"derivative":{"exercise_price":4.94,"exercise_date":"2020-08-13","expiration_date":"2025-04-07","underlying":"Common Stock","underlying_shares":446389},"source":{"system":"sec-edgar","filing":"0001140361-25-007915","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125007915/form4.xml","form_type":"4"}},{"id":1215134,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant","published_at":"2025-03-10T19:44:03.000Z","date":"2025-03-06","kind":"grant","planned":false,"acquired":true,"shares":892777,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"kind","element":"transactionCoding","label":"F1","text":"On March 6, 2025, the Issuer amended each Private Placement Warrant (\"Warrant\") held by each of Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and Snow Phipps Group (RPV), L.P. (\"SPG RPV\") (collectively, the \"Warrantholders\") to extend the existing expiration date for the exercise of the Warrants from April 7, 2025, to May 7, 2025."},{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"kind","element":"transactionCoding","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."},{"field":"shares","element":"transactionShares","label":"F3","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows:  841,408 shares by SPG AIV; 7,554 shares by SPG AIV Offshore; and 43,815 shares by SPG RPV."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F3","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows:  841,408 shares by SPG AIV; 7,554 shares by SPG AIV Offshore; and 43,815 shares by SPG RPV."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows:  841,408 shares by SPG AIV; 7,554 shares by SPG AIV Offshore; and 43,815 shares by SPG RPV."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":892777,"derivative":{"exercise_price":2.96,"exercise_date":"2020-08-13","expiration_date":"2025-05-07","underlying":"Common Stock","underlying_shares":892777},"source":{"system":"sec-edgar","filing":"0001140361-25-007915","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125007915/form4.xml","form_type":"4"}},{"id":1215133,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"ten_percent_owner":true}},{"id":81419,"kind":"person","name":"Snow Ian K","position":2,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"ten_percent_owner":true}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":3,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":4,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"ten_percent_owner":true}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":5,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"ten_percent_owner":true}}],"security":"Private Placement Warrant","published_at":"2025-03-10T19:44:03.000Z","date":"2025-03-06","kind":"disposition_to_issuer","planned":false,"acquired":false,"shares":892777,"ownership":{"direct":false,"nature":"Notes"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"kind","element":"transactionCoding","label":"F1","text":"On March 6, 2025, the Issuer amended each Private Placement Warrant (\"Warrant\") held by each of Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group AIV (Offshore), L.P. (\"SPG AIV Offshore\"), and Snow Phipps Group (RPV), L.P. (\"SPG RPV\") (collectively, the \"Warrantholders\") to extend the existing expiration date for the exercise of the Warrants from April 7, 2025, to May 7, 2025."},{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"kind","element":"transactionCoding","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."},{"field":"shares","element":"transactionShares","label":"F3","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows:  841,408 shares by SPG AIV; 7,554 shares by SPG AIV Offshore; and 43,815 shares by SPG RPV."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"Not applicable."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F3","text":"Represents in the aggregate directly held warrants to purchase a number of shares of Common Stock, as follows:  841,408 shares by SPG AIV; 7,554 shares by SPG AIV Offshore; and 43,815 shares by SPG RPV."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment, as set forth in the Warrants."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"This Form 4 is being filed by and behalf of: each of the Warrantholders; SPG GP, LLC, the general partner of each of the Warrantholders (\"SPG GP\"); and Ian K. Snow, who serves as the managing member of SPG GP (collectively, the \"Reporting Persons\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest, and this reports shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (\"Section 16\"), or for any other purpose. Messrs. John Pless and Alan Mantel, each a partner of SPG GP and/or one of its affiliates, were appointed to the board of directors of the Issuer as a representative of the Reporting Persons.  Solely for purposes of Section 16, the Reporting Persons are deemed directors-by-deputization. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person."}],"balance_after":0,"derivative":{"exercise_price":2.96,"exercise_date":"2020-08-13","expiration_date":"2025-04-07","underlying":"Common Stock","underlying_shares":892777},"source":{"system":"sec-edgar","filing":"0001140361-25-007915","document":"form4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000114036125007915/form4.xml","form_type":"4"}},{"id":2544565,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":2,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":3,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":4,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81419,"kind":"person","name":"Snow Ian K","position":5,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series A Convertible Preferred Stock","published_at":"2021-10-12T21:57:44.000Z","date":"2021-10-08","kind":"exercise","acquired":false,"shares":20000,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"See Footnotes"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"kind","element":"transactionCoding","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"shares","element":"transactionShares","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"shares","element":"transactionShares","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"shares","element":"transactionShares","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"Each of the Reporting Persons disclaims beneficial ownership of the securities to the extent it exceeds their pecuniary interest therein"}],"balance_after":0,"derivative":{"exercise_price":3.85,"underlying":"Common Stock","underlying_shares":5194805},"source":{"system":"sec-edgar","filing":"0000899243-21-040011","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000089924321040011/doc4.xml","form_type":"4"}},{"id":2544564,"issuer":{"id":5207,"kind":"organization","name":"Velocity Financial, Inc.","symbol":"VEL"},"owners":[{"id":81418,"kind":"person","name":"SPG GP, LLC","position":1,"cik":"0001696701","reported_name":"SPG GP, LLC","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81420,"kind":"person","name":"Snow Phipps Group AIV, L.P.","position":2,"cik":"0001798851","reported_name":"Snow Phipps Group AIV, L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":1753,"kind":"person","name":"Snow Phipps Group (RPV), L.P.","position":3,"cik":"0001696654","reported_name":"Snow Phipps Group (RPV), L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81421,"kind":"person","name":"Snow Phipps Group AIV (Offshore), L.P.","position":4,"cik":"0001798852","reported_name":"Snow Phipps Group AIV (Offshore), L.P.","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":81419,"kind":"person","name":"Snow Ian K","position":5,"cik":"0001327044","reported_name":"Snow Ian K","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2021-10-12T21:57:44.000Z","date":"2021-10-08","kind":"exercise","acquired":true,"shares":5194804,"price":3.85,"value":19999995.4,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"shares","element":"transactionShares","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"shares","element":"transactionShares","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"Pursuant to a Securities Purchase Agreement, dated as of April 5, 2020, by and between Snow Phipps Group AIV, L.P. (\"SPG AIV\"), Snow Phipps Group (RPV), L.P. (\"SPG RPV\"), Snow Phipps Group AIV (Offshore) L.P. (\"SPG AIV (Offshore)\") and Velocity Financial, Inc. (the \"Issuer\"), SPG AIV, SPG RPV, and SPG AIV (Offshore) acquired from the Issuer an aggregate of (i) 20,000 newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share (the \"Series A Preferred Stock\"). The Series A Preferred Stock was not convertible until the Issuer obtained stockholder approval as required by applicable NYSE rules (\"Stockholder Approval\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"(continued from footnote 1) After the Issuer obtained Stockholder Approval, the Series A Preferred Stock was converted into, with respect to each share of Series A Preferred Stock so converted, the number of shares of Common Stock equal to the then applicable conversion rate (plus cash in lieu of fractional shares) at any time, in whole or in part, at the option of SPG AIV, SPG RPV, and SPG AIV (Offshore) (or a respective permitted transferee) at a conversion price of $3.85 per share of Common Stock. The conversion rate for the Series A Preferred Stock is 259.74. The preferred stock is perpetual and therefore has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"This form 4 is being filed by and on behalf of each of the following: Ian K. Snow, who serves as the managing member of SPG GP, LLC, the general partner of Snow Phipps Group AIV, L.P.,  Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. (Ian K. Snow, collectively, with SPG GP LLC, Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P., the \"Reporting Persons\"). Represents (i) 4,895,844 shares of Common Stock held directly by Snow Phipps Group AIV, L.P., (ii) 255,064 shares of Common Stock held directly by Snow Phipps Group (RPV), L.P., and 43,896 shares of Common Stock held directly by Snow Phipps Group AIV (Offshore) L.P. Other than Snow Phipps Group AIV, L.P., Snow Phipps Group (RPV), L.P., and Snow Phipps Group AIV (Offshore) L.P. the Reporting Persons do not themselves directly hold any Common Stock."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"Each of the Reporting Persons disclaims beneficial ownership of the securities to the extent it exceeds their pecuniary interest therein"}],"balance_after":12272765,"source":{"system":"sec-edgar","filing":"0000899243-21-040011","document":"doc4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1798851/000089924321040011/doc4.xml","form_type":"4"}}]}