Kaya Ozan 4
4 · CarLotz, Inc. · Filed May 18, 2022
Insider Transaction Report
Form 4
CarLotz, Inc.LOTZ
Kaya Ozan
President
Transactions
- Award
Restricted Stock Units
2022-05-16+1,100,000→ 1,100,000 total→ Class A Common Stock (1,100,000 underlying) - Award
Restricted Stock Units
2022-05-16+1,100,000→ 1,100,000 total→ Class A Common Stock (1,100,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
- [F2]These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-fourth of these restricted stock units vest on April 25, 2023, one-fourth of these restricted stock units vest on April 25, 2024, one-fourth of these restricted stock units vest on April 25, 2025 and one-fourth of these restricted stock units vest on April 25, 2026, assuming continued employment through the applicable vesting date.
- [F3]These restricted stock units will vest if the following provisions are met: (i) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $4.00; (ii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $8.00; and (iii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $12.00, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.