Schmidt Phil Richard 4
4 · Lordstown Motors Corp. · Filed Oct 26, 2020
Insider Transaction Report
Form 4
Schmidt Phil Richard
President
Transactions
- Award
Non-Qualified Stock Options (Right to Buy)
2020-10-23+616,444→ 616,444 totalExercise: $1.79Exp: 2029-11-01→ Class A Common Stock (616,444 underlying) - Award
Incentive Stock Options (Right to Buy)
2020-10-23+167,645→ 167,645 totalExercise: $1.79Exp: 2029-11-01→ Class A Common Stock (167,645 underlying) - Award
Class A Common Stock
2020-10-23+72,778→ 72,778 total
Footnotes (3)
- [F1]The shares were acquired due to the automatic conversion of convertible promissory notes issued by Lordstown EV Corporation (f/k/a Lordstown Motors Corp.) ("Legacy Lordstown"), pursuant to the Agreement and Plan of Merger, dated August 1, 2020 (the "Merger Agreement"), among DiamondPeak Holdings Corp. (which subsequently changed its name to Lordstown Motors Corp., the "Issuer"), DPL Merger Sub Corp., a Delaware corporation and wholly owned subsidiary of the Issuer ("Merger Sub"), and Legacy Lordstown. Pursuant to the Merger Agreement, Merger Sub merged with and into Legacy Lordstown, with Legacy Lordstown surviving as the surviving company and as a wholly owned subsidiary of the Issuer.
- [F2]The options were received in exchange for options to purchase 3,000 shares of Legacy Lordstown pursuant to the Merger Agreement. 55,882 options are fully vested and exercisable. 55,882 options vest on November 1, 2020, and 55,881 options vest on November 1, 2021.
- [F3]The options were received in exchange for options to purchase 11,031.24 shares of Legacy Lordstown pursuant to the Merger Agreement. 209,592 options are fully vested and exercisable. 203,426 options vest on November 1, 2020, and 203,426 options vest on November 1, 2021.