4/A//SEC Filing
Jellen Joseph Michael 4/A
Accession 0001104659-20-139111
CIK 0001745317other
Filed
Dec 22, 7:00 PM ET
Accepted
Dec 23, 4:17 PM ET
Size
14.7 KB
Accession
0001104659-20-139111
Insider Transaction Report
Form 4/AAmended
Jellen Joseph Michael
Chief Commercial Officer
Transactions
- Award
Restricted Stock Unit
2020-09-29+73,445→ 73,445 totalExp: 2026-03-14→ Common Stock (73,445 underlying) - Award
Common Stock
2020-09-29+3,741,876→ 3,741,876 total - Award
Restricted Stock Unit
2020-09-29+117,512→ 117,512 totalExp: 2027-05-28→ Common Stock (117,512 underlying) - Award
Restricted Stock Unit
2020-09-29+2,894→ 2,894 totalExp: 2027-09-28→ Common Stock (2,894 underlying)
Footnotes (5)
- [F1]In connection with the merger described in that certain Agreement and Plan of Merger (the "Merger"), dated as of July 2, 2020, and amended on August 20, 2020, by and among Graf Industrial Corp., a Delaware corporation now known as Velodyne Lidar, Inc. ("New Velodyne"), VL Merger Sub Inc., a Delaware corporation, and Velodyne Lidar, Inc., a Delaware corporation now known as Velodyne Lidar USA, Inc., the Reporting Person received shares of restricted common stock in exchange for 1,256,250 shares of restricted common stock of Velodyne Lidar USA, Inc. The vesting of the shares of restricted stock was subject to a service-based requirement and a liquidity event requirement. The service-based vesting requirement has already been satisfied. The liquidity-event requirement is expected to be satisfied or deemed satisfied by the Board of Directors of New Velodyne in calendar year 2020. On the effective date of the Merger, the closing price of New Velodyne common stock was $24.75 per share.
- [F2]The Reporting Person received restricted stock units in New Velodyne ("RSUs") in exchange for 25,000 RSUs of Velodyne Lidar USA, Inc. in connection with the Merger. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the right to receive one share of common stock. The liquidity-event requirement was deemed satisfied by the Board of Directors of New Velodyne in October 2020 and the service-based requirement will be or, as applicable, was satisfied with respect to 25% of the RSUs when the Reporting Person remains or, as applicable, remained in continuous service through the one-year anniversary of February 22, 2019 and with respect to 6.25% of the RSUs when the Reporting Person completes or, as applicable, completed each three (3) months of continuous service thereafter.
- [F3]The RSUs were received in exchange for 40,000 restricted stock units in Velodyne Lidar USA, Inc. in connection with the Merger. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the right to receive one share of common stock. The liquidity-event requirement was deemed satisfied by the Board of Directors of New Velodyne in October 2020 and the service-based requirement will be or, as applicable, was satisfied with respect to 25% of the RSUs when the Reporting Person remains or, as applicable, remained in continuous service through the one-year anniversary of March 11, 2020 and with respect to 6.25% of the RSUs when the Reporting Person completes or, as applicable, completed each three (3) months of continuous service thereafter.
- [F4]Subject to the satisfaction of a service-based requirement, each RSU represents the right to receive one share of common stock. The service-based requirement will be satisfied with respect to 100% of the RSUs if the Reporting Person remains in continuous service through March 29, 2021.
- [F5]On October 1, 2020, the Reporting Person filed a Form 4 (the "Prior Report") that inadvertently included the incorrect total number of RSUs granted. The Reporting Person is filing this amended Form 4 to correct the number of RSUs subject to the previously reported grant(s) and to report a single additional RSU grant that was unintentionally omitted from the Prior Report.
Documents
Issuer
Velodyne Lidar, Inc.
CIK 0001745317
Entity typeother
Related Parties
1- filerCIK 0001825601
Filing Metadata
- Form type
- 4/A
- Filed
- Dec 22, 7:00 PM ET
- Accepted
- Dec 23, 4:17 PM ET
- Size
- 14.7 KB