Sclarsic Sarah 4
4 · XL Fleet Corp. · Filed Dec 23, 2020
Insider Transaction Report
Form 4
Sclarsic Sarah
Director
Transactions
- Conversion
Common Stock
2020-12-21+50,000→ 50,000 total - Conversion
Class B Common Stock
2020-12-21−50,000→ 0 total→ Class A Common Stock (50,000 underlying)
Footnotes (2)
- [F1]In connection with the consummation of the business combination (the "Business Combination") and pursuant to the Agreement and Plan of Reorganization, dated as of September 17, 2020 (the "Merger Agreement"), 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 XL Hybrids, Inc. ("Legacy XL"), pursuant to which Merger Sub merged with and into Legacy XL, with Legacy XL surviving as a wholly-owned subsidiary of Pivotal (which subsequently changed its name to "XL Fleet Corp.", the "Issuer"), each share of Pivotal Class A common stock ("Pivotal Class A Common Stock") was automatically converted on a one-for-one basis, into the Issuer's common stock (the "Common Stock").
- [F2]The shares of Pivotal Class B common stock automatically converted into shares of Pivotal Class A Common Stock at the time of the Business Combination on a one-for-one basis. Upon the closing of the Business Combination, pursuant to the Merger Agreement, such shares were converted into shares of Common Stock on a one-for-one basis.