<SEC-DOCUMENT>0001628280-18-008354.txt : 20180625
<SEC-HEADER>0001628280-18-008354.hdr.sgml : 20180625
<ACCEPTANCE-DATETIME>20180625213250
ACCESSION NUMBER:		0001628280-18-008354
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180625
FILED AS OF DATE:		20180625
DATE AS OF CHANGE:		20180625

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WILDS DAVID M
		CENTRAL INDEX KEY:			0001062406
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-VARIETY STORES [5331]
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38532
		FILM NUMBER:		18918157

	MAIL ADDRESS:	
		STREET 1:		40 BURTON HILLS BOULEVARD, SUITE 415
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37215

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			i3 Verticals, Inc.
		CENTRAL INDEX KEY:			0001728688
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				824052852
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		40 BURTON HILLS BLVD.
		STREET 2:		SUITE 415
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37215
		BUSINESS PHONE:		800-203-7981

	MAIL ADDRESS:	
		STREET 1:		40 BURTON HILLS BLVD.
		STREET 2:		SUITE 415
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37215
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_152997675368285.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <periodOfReport>2018-06-25</periodOfReport>

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        <issuerName>i3 Verticals, Inc.</issuerName>
        <issuerTradingSymbol>IIIV</issuerTradingSymbol>
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            <rptOwnerCik>0001062406</rptOwnerCik>
            <rptOwnerName>WILDS DAVID M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>40 BURTON HILLS BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 415</rptOwnerStreet2>
            <rptOwnerCity>NASHVILLE</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>37215</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Class B common stock, par value $0.0001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2018-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
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            <transactionAmounts>
                <transactionShares>
                    <value>270636</value>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        <nonDerivativeTransaction>
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                <value>Class B common stock, par value $0.0001 per share</value>
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                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By wife</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Front Street Equities, LLC</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.0</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2018-06-25</value>
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                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
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            <expirationDate>
                <value>2028-06-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A common stock, par value $0.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
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            <transactionDate>
                <value>2018-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            <transactionAmounts>
                <transactionShares>
                    <value>270636</value>
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                <transactionAcquiredDisposedCode>
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            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A common stock, par value $0.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>270636.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>270636</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeTransaction>
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                <underlyingSecurityTitle>
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                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>By wife</value>
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        <derivativeTransaction>
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                <value>Common Units</value>
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                <footnoteId id="F5"/>
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                </underlyingSecurityTitle>
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                    <value>3103388</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Front Street Equities, LLC</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the Reorganization Transactions (as defined in i3 Verticals, Inc.'s (the &quot;Issuer&quot;) Registration Statement on Form S-1, as amended (File No. 333-225214) (the &quot;Registration Statement&quot;)) as part of the Issuer's initial public offering (&quot;IPO&quot;), the Reporting Person's equity ownership in i3 Verticals, LLC was converted into newly issued common units in i3 Verticals, LLC (each a &quot;Common Unit&quot;) together with an equal number of shares of Class B common stock, par value $0.0001 per share (the &quot;Class B Common Stock&quot;), in the Issuer. The shares of Class B Common Stock (i) confer no incidents of economic ownership on the holders thereof, (ii) only confer voting rights on the holders thereof and (iii) may only be issued, on a one-for-one basis, to the holders of Common Units.</footnote>
        <footnote id="F2">This Form 4 shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any securities held solely by the Reporting Person's spouse.</footnote>
        <footnote id="F3">Front Street Equities, LLC is the General Partner of, and exercises voting and investment power over shares held by, First Avenue Partners II, L.P. and First Avenue-ETC Partners, L.P. Voting and investment decisions at Front Street Equities, LLC are made by David Wilds, who serves as (a) the sole limited partner and managing member of First Avenue Partners II, L.P., (b) the managing member of First Avenue-ETC Partners, L.P., and (c) the sole member of Front Street Equities, LLC. Mr. Wilds disclaims beneficial ownership of these securities except to the extent of his respective pecuniary interest therein, if any, and the inclusion of these shares in his report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.</footnote>
        <footnote id="F4">The option vests ratably in three equal annual installments beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Issuer.</footnote>
        <footnote id="F5">The vested Common Units may be redeemed by the Reporting Person at any time following the closing of the Issuer's IPO for an equal number of shares of Class A common stock, par value $0.0001 per share (the &quot;Class A Common Stock&quot;) or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon the Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled.</footnote>
        <footnote id="F6">Pursuant to the Reorganization Transactions (as defined in the Registration Statement) as part of the Issuer's IPO, the Reporting Person's equity ownership in i3 Verticals, LLC was converted into newly issued Common Units together with an equal number of Class B Common Stock, in the Issuer.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Paul Maple, Attorney-in-Fact
for David M. Wilds</signatureName>
        <signatureDate>2018-06-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
