4//SEC Filing
Chow Heidy Kingwan 4
Accession 0000950103-22-019600
CIK 0001886894other
Filed
Nov 13, 7:00 PM ET
Accepted
Nov 14, 4:06 PM ET
Size
6.7 KB
Accession
0000950103-22-019600
Insider Transaction Report
Form 4
Snail, Inc.SNAL
Chow Heidy Kingwan
Chief Financial Officer
Transactions
- Award
Restricted Stock Units
2022-11-09+262,080→ 262,080 total→ Class A Common Stock (262,080 underlying)
Footnotes (3)
- [F1]Represents performance-based restricted stock units ("RSUs") granted under the Issuer's 2022 Omnibus Incentive Plan (the "Plan"). Each RSU represents a contingent right to receive one share of the Issuer's Class A common stock. The RSUs have no expiration date.
- [F2]The RSUs vest as follows: 10% vest on November 9, 2023 if the Issuer's Average Annual Growth Rate (as defined in the applicable award agreement under the Plan, the "AAGR") is 15% or above during the one-year period following November 9, 2022 (the "IPO Date"); an additional 15% vest on November 9, 2024 if the Issuer's AAGR is 30% or above during the two-year period following the IPO Date; an additional 20% vest on November 9, 2025 if the Issuer's AAGR is 45% or above during the three-year period following the IPO Date;
- [F3]an additional 25% vest on November 9, 2026 if the Issuer's AAGR is 60% or above during the four-year period following the IPO Date; an additional 30% on November 9, 2027 if the Issuer's AAGR is 75% or above during the five-year period following the IPO Date, in each case, subject to the reporting person's continuous service through the applicable vesting date; further, if the 75% AAGR is achieved during the period between the IPO Date and the fifth anniversary of the IPO Date, any unvested RSUs that did not vest solely due to failure to satisfy the relevant target AAGR on each of the prior vesting dates will vest in full.
Documents
Issuer
Snail, Inc.
CIK 0001886894
Entity typeother
Related Parties
1- filerCIK 0001806477
Filing Metadata
- Form type
- 4
- Filed
- Nov 13, 7:00 PM ET
- Accepted
- Nov 14, 4:06 PM ET
- Size
- 6.7 KB