<SEC-DOCUMENT>0000929638-24-001256.txt : 20240327
<SEC-HEADER>0000929638-24-001256.hdr.sgml : 20240327
<ACCEPTANCE-DATETIME>20240327185740
ACCESSION NUMBER:		0000929638-24-001256
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240326
FILED AS OF DATE:		20240327
DATE AS OF CHANGE:		20240327

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kim Jeemee
		CENTRAL INDEX KEY:			0002007834
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41013
		FILM NUMBER:		24792610

	MAIL ADDRESS:	
		STREET 1:		C/O GCT SEMICONDUCTOR, INC.
		STREET 2:		2290 NORTH 1ST STREET, SUITE 201
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95131

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Concord Acquisition Corp III
		CENTRAL INDEX KEY:			0001851961
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				862171699
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		477 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-883-4330

	MAIL ADDRESS:	
		STREET 1:		477 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
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<SEQUENCE>1
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    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-03-26</periodOfReport>

    <issuer>
        <issuerCik>0001851961</issuerCik>
        <issuerName>Concord Acquisition Corp III</issuerName>
        <issuerTradingSymbol>GCTS</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0002007834</rptOwnerCik>
            <rptOwnerName>Kim Jeemee</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GCT SEMICONDUCTOR HOLDING, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2290 NORTH 1ST STREET, SUITE 201</rptOwnerStreet2>
            <rptOwnerCity>SAN JOSE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>95131</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>VP of Engineering &amp; CTO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

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                <value>Common Stock, par value $0.0001 per share</value>
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            <transactionDate>
                <value>2024-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            <transactionAmounts>
                <transactionShares>
                    <value>215285</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
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                <value>Common Stock, par value $0.0001 per share</value>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
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            </securityTitle>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <expirationDate>
                <value>2029-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                <transactionPricePerShare>
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        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
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                <value>2024-03-26</value>
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                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
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            <transactionAmounts>
                <transactionShares>
                    <value>18676</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F6"/>
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            <expirationDate>
                <value>2031-01-01</value>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>18676</value>
                </underlyingSecurityShares>
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                    <value>18676</value>
                </sharesOwnedFollowingTransaction>
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                    <value>D</value>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the Business Combination Agreement, dated as of November 2, 2023 (the &quot;Business Combination Agreement&quot;), by and among Concord Acquisition Corp III, Gibraltar Merger Sub Inc., and GCT Semiconductor, Inc. (&quot;GCT&quot;), at the Effective Time (as defined in the Business Combination Agreement), each share of GCT common stock was automatically converted for the right to receive common stock of the Issuer in the manner set forth in the Business Combination Agreement.</footnote>
        <footnote id="F2">Represents the Issuer's common stock subject to restricted stock units (RSUs). Pursuant to the Business Combination Agreement, at the Effective Time (as defined in the Business Combination Agreement), each award of restricted stock units relating to a share of GCT common stock granted under GCT's existing equity plans was automatically converted into an award of restricted stock units covering the number of shares of the common stock of the Issuer in the manner set forth in the Business Combination Agreement.  The shares subject to RSUs reported herein will vest in equal annual installments over a four (4) year period measured from December 11, 2023.</footnote>
        <footnote id="F3">Pursuant to the Business Combination Agreement, at the Effective Time, each outstanding option to purchase shares of GCT common stock was assumed and converted into an option to purchase shares of common stock of the Issuer with the same terms and conditions as were applicable to such option immediately prior to the Effective Time, subject to the applicable exchange ratio.</footnote>
        <footnote id="F4">The option vests with respect to (i) twenty-five percent (25%) of the shares upon completion of one (1) year of service measured from January 1, 2019 and (ii) the balance of the shares subject to the option in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service over the thirty-six (36) month period measured from January 1, 2020.</footnote>
        <footnote id="F5">The option vests with respect to (i) twenty-five percent (25%) of the shares upon completion of one (1) year of service measured from January 1, 2020 and (ii) the balance of the shares subject to the option in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service over the thirty-six (36) month period measured from January 1, 2021.</footnote>
        <footnote id="F6">The option vests with respect to (i) twenty-five percent (25%) of the shares upon completion of one (1) year of service measured from January 1, 2021 and (ii) the balance of the shares subject to the option in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service over the thirty-six (36) month period measured from January 1, 2022.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Edmond Cheng, attorney-in-fact</signatureName>
        <signatureDate>2024-03-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
