Hynes Thomas J. III 4

4 · XL Fleet Corp. · Filed Dec 23, 2020

Form 4

Period: 2020-12-21

DirectorPresident

Transactions

Award
Common Stock
2020-12-21+6,181,461→ 6,181,461 total
Award
Stock Option (right to buy)
2020-12-21+595,111→ 595,111 total
Exercise: $0.24Exp: 2028-05-24→ Common Stock (595,111 underlying)
Award
Stock Option (right to buy)
2020-12-21+595,111→ 595,111 total
Exercise: $0.22From: 2020-12-21Exp: 2023-11-21→ Common Stock (595,111 underlying)

Footnotes (4)

[F1]Mr. Hynes received 6,181,461 shares of XL Hybrids, Inc., a Delaware corporation ("Legacy XL"), in connection with the Agreement and Plan of Reorganization, dated as of September 17, 2020, by and among Pivotal Investment Corporation II ("Pivotal"), PIC II Merger Sub Corp., a Delaware corporation and wholly owned subsidiary of Pivotal ("Merger Sub"), and Legacy XL, pursuant to which Merger Sub merged with and into Legacy XL (the "Merger"), with Legacy XL surviving as a wholly-owned subsidiary of Pivotal (which subsequently changed its name to "XL Fleet Corp.", the "Issuer").
[F2]25% of the shares underlying this option vest 12 months from July 1, 2017 and of the 75% remaining, an additional 6.25% shall vest every three months thereafter, subject to Mr. Hynes' continued service through the applicable vesting date.
[F3]Received in the Merger in exchange for a stock option to acquire 785,948 shares of Legacy XL common stock for $0.18 per share.
[F4]Received in the Merger in exchange for a stock option to acquire 785,948 shares of Legacy XL common stock for $0.16 per share.

Documents

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