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Form 4 Welbilt, Inc. For: Jul 28 Filed by: Sheffer Richard James

July 29, 2022 9:54 AM EDT
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 *
Sheffer Richard James
(Last) (First) (Middle)
2227 WELBILT BOULEVARD
(Street)
NEW PORT RICHEY, FL 34655
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Welbilt, Inc. [ WBT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP, IR, Risk Mgmt, Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
07/28/2022
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 07/28/2022   D (1)   12,086 D $ 24 (2) 0 D  
Common Stock 07/28/2022   D (1)   6,392 (3) D $ 24 (2) 0 D  
Common Stock 07/28/2022   D (1)   18,008 (4) D $ 24 (2) 0 D  
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 Options (Right to Buy) $ 14.99 07/28/2022   D     1,113 02/14/2023 02/14/2029 Common Stock 1,113 $ 9.01 (2) 0 D  
Stock Options (Right to Buy) $ 14.77 07/28/2022   D     1,043 02/15/2023 02/15/2031 Common Stock 1,043 $ 9.23 (2) 0 D  
Stock Options (Right to Buy) $ 14.01 07/28/2022   D     1,128 02/21/2023 02/23/2030 Common Stock 1,128 $ 9.99 (2) 0 D  
Stock Options (Right to Buy) $ 14.77 07/28/2022   D     1,044 02/15/2024 02/15/2031 Common Stock 1,044 $ 9.23 (2) 0 D  
Stock Options (Right to Buy) $ 14.77 07/28/2022   D     1,128 02/21/2024 02/24/2030 Common Stock 1,128 $ 9.23 (2) 0 D  
Explanation of Responses:
1. Disposed of pursuant to the Agreement and Plan of Merger, dated as of July 14, 2021, by and among the Issuer, Ali Holding S.r.l., an Italian societa a responsabilita limitata ("Ali"), Ali Group North America Corporation, a Delaware corporation and a wholly owned subsidiary of Ali ("Acquiror"), and Ascend Merger Corp. ("Merger Sub"), a Delaware corporation and a wholly owned subsidiary of Acquiror, in exchange for cash consideration of $24.00 per share of common stock of the Issuer (the "Merger Consideration") on the effective date of the merger.
2. Stock options were canceled in the merger in exchange for an amount in cash equal to the difference between the Merger Consideration of $24.00 and the exercise price of the option.
3. Represents shares underlying restricted stock units of the Issuer (the "Company RSUs"), which were converted into the right to receive cash in an amount equal to the number of shares of common stock of the Issuer underlying such Company RSUs multiplied by the Merger Consideration.
4. Represents shares underlying performance stock units of the Issuer (the "Company PSUs"), which were converted into the right to receive cash in an amount equal to the number of shares of common stock of the Issuer underlying such Company PSUs multiplied by the Merger Consideration, assuming the maximum level of performance was achieved.
/s/ Joel H. Horn, as Attorney-in-Fact 07/29/2022
** 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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