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Form 4 TIGO ENERGY, INC. For: Feb 26 Filed by: ALON ZVI

February 28, 2024 7:42 PM EST
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
ALON ZVI

(Last) (First) (Middle)
655 CAMPBELL TECHNOLOGY PKWY,
STE 150

(Street)
CAMPBELL CA 95008

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TIGO ENERGY, INC. [ TYGO ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
02/26/2024
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/26/2024   M   14,670 A $ 0.2571 188,583 (1) D  
Common Stock 02/26/2024   S   14,670 (2) D $ 1.3574 (3) 173,913 D  
Common Stock 02/27/2024   M   23,905 A $ 0.2571 197,818 (1) D  
Common Stock 02/27/2024   S   23,905 (2) D $ 1.3576 (4) 173,913 D  
Common Stock               1,774,826 I By Revocable Trust
Common Stock               12,689,306 I By Alon Ventures, LLC
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 0.2571 02/26/2024   M     14,670   (5) 04/13/2024 Common Stock 14,670 $ 0 421,883 D  
Stock Option (right to buy) $ 0.2571 02/27/2024   M     23,905   (5) 04/13/2024 Common Stock 23,905 $ 0 397,978 D  
Explanation of Responses:
1. Includes 173,913 shares of common stock, par value $0.0001 per share ("Common Stock"), underlying restricted stock units ("RSUs") granted to the reporting person on August 11, 2023 (the "Grant Date") pursuant to the Issuer's 2023 Incentive Plan. One-Third (1/3) of the RSUs shall vest, and an equal number of shares of Common Stock will be deliverable to the reporting person, on each of the first three anniversaries of the Grant Date, subject to continued service through each such vesting date.
2. Represents shares of Common Stock that were sold to satisfy the exercise price and tax withholding obligations due upon the exercise of a stock option that was to expire on April 13, 2024.
3. Represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $1.32 to $1.39.
4. Represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $1.31 to $1.40.
5. The stock option was immediately exercisable on April 14, 2014, which was the date of grant.
Remarks:
The reporting person undertakes to provide to Tigo Energy, Inc., any security holder of Tigo Energy, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price, with respect to all transactions reported on this Form 4.
/s/ Bill Roeschlein, as attorney-in-fact 02/28/2024
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.


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