*
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The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
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CUSIP NO. 405166109
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Page 2 of 7 Pages
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1
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NAMES OF REPORTING PERSONS
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Markel Group Inc.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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☐
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(b)
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☒
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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WC
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Virginia
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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80,130,668 (1), (2), (3)
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8
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SHARED VOTING POWER
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0 |
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9
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SOLE DISPOSITIVE POWER
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80,130,668 (1), (2), (3)
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10
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SHARED DISPOSITIVE POWER
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0 |
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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80,130,668 (1), (2), (3)
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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49.6% (4)
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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CO
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(1) |
Includes 75,000,000 shares of Class V Common Stock (as defined in the Original Schedule 13D) and an equal number of OpCo Units (as defined in the Original Schedule 13D), which are, together,
exchangeable, at the option of the holder, on a one-for-one basis for a share of Class A Common Stock (as defined in the Original Schedule 13D) or, if certain conditions set forth in the Amended
and Restated Exchange Agreement (as defined herein) are met, an equivalent value in cash at the option of the Company (as defined herein).
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(2) |
Includes 540,000 shares of Class A Common Stock that the Reporting Person has the right to acquire within 60 days upon exercise of Warrants (as defined in the Original Schedule 13D).
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(3) |
Includes 1,590,668 shares of Series A Preferred Stock (as defined herein) that are exchangeable, at the option of the holder, into shares of Class A Common Stock at the Conversion Rate (as defined herein).
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(4) |
Percentage based on the sum of (i) 84,380,625 shares of Class A Common Stock outstanding as of April 21, 2023, based on the Company’s quarterly report on Form 10-Q, filed with the SEC (as defined in the
Original Schedule 13D) on May 9, 2023; (ii) 540,000 shares of Class A Common Stock issuable upon exercise of Warrants held by the Reporting Person; (iii) 75,000,000 shares of Class A Common Stock that could be issued upon conversion of
Class V Common Stock and OpCo Units held by the Reporting Person; and (iv) 1,590,668 shares of Class A Common Stock that could be issued upon conversion of Series A Preferred Stock held by the
Reporting Person, each of (ii), (iii), and (iv) of which have been added to the total shares of Class A Common Stock outstanding for purposes of calculating the Reporting Person’s beneficial ownership percentage in accordance with Rule
13d-3(d)(1)(i) under the Act. Notwithstanding the percentage reported herein, based on the aggregate total of Class A Common Stock and Class V Common Stock outstanding, and the voting power assigned to each class, the Reporting Person
controls approximately 29% of the voting power of the Company.
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CUSIP NO. 405166109
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Page 3 of 7 Pages
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Item 2. |
Identity and Background.
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(a) |
Effective May 26, 2023, the Reporting Person changed its corporate name to Markel Group Inc.
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Item 3. |
Source and Amount of Funds or Other Consideration.
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CUSIP NO. 405166109
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Page 4 of 7 Pages
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Item 4. |
Purpose of Transaction.
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Item 5. |
Interest in Securities of the Issuer.
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CUSIP NO. 405166109
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Page 5 of 7 Pages
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Item 6. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
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Item 7. |
Material to Be Filed as Exhibits.
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CUSIP NO. 405166109
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Page 6 of 7 Pages
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June 27, 2023
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MARKEL GROUP INC.
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By:
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/s/ Richard R. Grinnan
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Name:
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Richard R. Grinnan
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Title:
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Senior Vice President, Chief Legal Officer and Secretary
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CUSIP NO. 405166109
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Page 7 of 7 Pages
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Name
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Present Occupation
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Citizenship
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Steven A. Markel
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Chairman of the Board, Markel Group Inc.
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United States
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Mark M. Besca
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Retired
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United States
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K. Bruce Connell
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Retired
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United States
and Bermuda
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Lawrence A. Cunningham
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Managing Partner, Quality Shareholders Group and Special Counsel, Mayer Brown LLP
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United States
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Thomas S. Gayner
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Chief Executive Officer, Markel Group Inc.
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United States
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Greta J. Harris
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President and Chief Executive Officer, Better Housing Coalition
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United States
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Morgan E. Housel
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Partner, The Collaborative Fund
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United States
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Diane Leopold
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Executive Vice President and Chief Operating Officer, Dominion Energy
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United States
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Anthony F. Markel
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Retired Vice Chairman, President and Chief Operating Officer, Markel Group Inc.
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United States
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Harold L. Morrison, Jr.
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Retired
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United States
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Michael O’Reilly
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Retired
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United States
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A. Lynne Puckett
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Senior Vice President and General Counsel, Celanese Corporation
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United States
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Name
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Present Occupation
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Citizenship
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Thomas S. Gayner
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Chief Executive Officer, Markel Group Inc.
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United States
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Michael R. Heaton
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Executive Vice President, Markel Group Inc.
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United States
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Jeremy A. Noble1
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President, Insurance, Markel Group Inc.
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United States
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Richard R. Grinnan
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Senior Vice President, Chief Legal Officer and Secretary, Markel Group Inc.
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United States
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Andrew G. Crowley
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President, Markel Ventures, Markel Group Inc.
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United States
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Teresa S. Gendron
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Chief Financial Officer, Markel Group Inc.
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United States
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1. |
Jeremy A. Noble owns 300 shares of Class A Common Stock.
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