4//SEC Filing
Prakash Vidul 4
Accession 0000899243-21-011074
CIK 0001811856other
Filed
Mar 9, 7:00 PM ET
Accepted
Mar 10, 6:52 PM ET
Size
12.2 KB
Accession
0000899243-21-011074
Insider Transaction Report
Form 4
Prakash Vidul
CHIEF FINANCIAL OFFICER
Transactions
- Award
Class A Common Stock
2021-03-08+1,000,000→ 1,000,000 total - Award
Stock Options
2021-03-08+1,000,000→ 1,000,000 totalExercise: $10.00→ Class A Common Stock (1,000,000 underlying) - Award
Stock Options
2021-03-08+1,162,499→ 1,162,499 totalExercise: $9.04→ Class A Common Stock (1,162,499 underlying)
Footnotes (4)
- [F1]In connection with the Issuer's business combination (the "Business Combination") with View, Inc. ("Legacy View") in accordance with the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of November 30, 2020, among the Issuer (f/k/a CF Finance Acquisition Corp. II), PVMS Merger Sub, Inc. and Legacy View, 1,000,000 restricted stock units ("RSUs") were granted to the reporting person from the Issuer's 2021 Equity Incentive Plan ("2021 Plan"). The RSUs are subject to both time and performance based vesting. 1/4th of the RSUs will time vest on March 8, 2022 and 1/48th on the same day of each month for the next three years, so that all such shares subject to this award will be fully time vested on March 8, 2025.
- [F2](Continued from Footnote 1) 1/2 of the RSUs will performance vest if the average closing stock price of shares of the Issuer's Class A Common Stock equals or exceeds $15.00 per share over a sixty (60) trading day period at any time during the four year vesting period ("$15 hurdle"), and all of the RSUs will performance vest if the average closing stock price of shares of the Issuer's Class A Common Stock equals or exceeds $20.00 per share over a sixty (60) trading day period at any time during the four year vesting period ("$20 hurdle"). If the $15 hurdle has not been met by March 8, 2025, all of the RSUs will be forfeited and returned to the 2021 Plan. If the $15 hurdle has been met but not the $20 hurdle by March 8, 2025, 1/2 of the RSUs will be forfeited and returned to the 2021 Plan.
- [F3]Upon the closing of the Business Combination, each stock option issued under Legacy View's Amended and Restated 2018 Equity Incentive Plan ("Stock Option") was converted into an option to purchase a number of shares of the Issuer's Class A Common Stock in accordance with the Merger Agreement. The Stock Options granted to the reporting person on May 15, 2019 were converted into options to purchase 1,162,499 shares of the Issuer's Class A Common Stock at an exercise price of $9.04. 1/48th of the shares subject to this award vested on April 1, 2019 and on the same day of each month for the next four years, so that all such shares subject to this award will be fully vested and exercisable on March 1, 2023.
- [F4]Upon the closing of the Business Combination, stock options were granted from the Issuer's 2021 Equity Incentive Plan ("2021 Stock Option"). The 2021 Stock Options granted to the reporting person on the closing date of the Business Combination ("Closing Date") were options to purchase 1,000,000 shares of the Issuer's Class A Common Stock at an exercise price of $10.00 per share. 1/4th of the shares subject to this award will vest on the one year anniversary of the Closing Date and on the same day of each month for the next three years, so that all such shares subject to this award will be fully vested and exercisable on the four year anniversary of the Closing Date.
Documents
Issuer
CF Finance Acquisition Corp II
CIK 0001811856
Entity typeother
Related Parties
1- filerCIK 0001732987
Filing Metadata
- Form type
- 4
- Filed
- Mar 9, 7:00 PM ET
- Accepted
- Mar 10, 6:52 PM ET
- Size
- 12.2 KB