Covington Teresa 4
4 · Lightning eMotors, Inc. · Filed May 10, 2021
Insider Transaction Report
Form 4
Covington Teresa
Chief Financial Officer
Transactions
- Other
Options to receive Common Stock
2021-05-06+121,760→ 121,760 totalExercise: $6.57→ Common Stock (121,760 underlying)
Footnotes (1)
- [F1]121,760 shares of New Lightning eMotors Common Stock are issuable upon the exercise of New Lightning eMotors options issued in exchange of pre-merger Lightning Systems options at a price of $6.57 per share, pursuant to the Business Combination Agreement, dated as of December 10, 2020, by and among GigCapital3, Inc., Project Power Merger Sub, Inc., a direct, wholly-owned subsidiary of GigCapital3, Inc., and Lightning Systems, Inc. pursuant to which Lightning Systems, Inc. became a direct, wholly-owned subsidiary of GigCapital3, Inc., which subsequently changed its name to Lightning eMotors, Inc. Such options will vest in ratable installments on February 24, 2022, 2023 and 2024, subject to continued employment. The pre-merger Lightning Systems options were converted into New Lightning eMotors options to purchase shares of New Lightning eMotors Common Stock at the exchange ratio of 0.940591804.