4//SEC Filing
Leonard Melissa A. 4
Accession 0001104659-24-035656
CIK 0001759546other
Filed
Mar 17, 8:00 PM ET
Accepted
Mar 18, 5:20 PM ET
Size
19.9 KB
Accession
0001104659-24-035656
Insider Transaction Report
Form 4
NU RIDE INC.NRDE
Leonard Melissa A.
EVP, GEN. COUNSEL & SECRETARY
Transactions
- Exercise/Conversion
Restricted Stock Units
2024-03-14−18,000→ 0 totalExercise: $0.00→ Class A Common Stock (18,000 underlying) - Exercise/Conversion
Class A common stock
2024-03-14+5,555→ 15,184 total - Tax Payment
Class A common stock
2024-03-14−1,925→ 13,259 total - Exercise/Conversion
Class A common stock
2024-03-14+18,000→ 31,259 total - Tax Payment
Class A common stock
2024-03-14−6,237→ 25,022 total - Award
Class A common stock
2024-03-14+6,000→ 31,022 total - Tax Payment
Class A common stock
2024-03-14−2,079→ 28,943 total - Exercise/Conversion
Restricted Stock Units
2024-03-14−5,555→ 0 totalExercise: $0.00→ Class A Common Stock (5,555 underlying)
Footnotes (7)
- [F1]Restricted stock units ("RSUs") convert into Class A common stock on a one-for-one basis.
- [F2]Represents shares withheld by the Issuer to satisfy the reporting person's tax withholding obligation upon the settlement of previously reported RSUs or PSUs, as applicable, which vested and settled on the Effective Date (as defined below). This does not represent a sale by the reporting person.
- [F3]On August 15, 2022, the reporting person was granted 6,000 performance stock units ("PSUs"), vesting upon the satisfaction of certain performance criteria. Vesting and settlement of awards that would occur after the Effective Date was accelerated in connection with the reporting person's termination of employment pursuant to the reporting person's severance agreement with the Issuer. The reporting person's employment terminated on December 29, 2023, however settlement of such awards could not occur until the Effective Date.
- [F4]PSUs convert into Class A common stock on a one-for-one basis.
- [F5]On June 27, 2023, Lordstown Motors Corp., a Delaware corporation, together with its subsidiaries (collectively, the "Debtors"), filed voluntary petitions for relief (the "Chapter 11 Cases") under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). On March 5, 2024, the Bankruptcy Court entered an order (the "Confirmation Order") confirming the Third Modified First Amended Joint Chapter 11 Plan of Lordstown Motors Corp. and Its Affiliated Debtors (as may be further modified, amended, or supplemented, the "Plan"). On March 14, 2024 (the "Effective Date"), the Plan was consummated and became effective in accordance with its terms, and the Debtors emerged from the Chapter 11 Cases with the Company changing its name to Nu Ride Inc.
- [F6]On January 1, 2022, the reporting person was granted 16,666 RSUs, vesting in three equal annual installments beginning on January 1, 2022. Vesting and settlement of awards that was to occur during the pendency of the Chapter 11 Cases was stayed during that period until the Effective Date.
- [F7]On August 15, 2022, the reporting person was granted 18,000 RSUs, vesting in three equal annual installments beginning on August 15, 2023. Vesting and settlement of awards (i) that was to occur during the pendency of the Chapter 11 Cases was stayed during that period until the Effective Date, and (ii) that would occur after the Effective Date was accelerated in connection with the reporting person's termination of employment pursuant to the reporting person's severance agreement with the Issuer. The reporting person's employment terminated on December 29, 2023, however settlement of such awards could not occur until the Effective Date.
Documents
Issuer
NU RIDE INC.
CIK 0001759546
Entity typeother
Related Parties
1- filerCIK 0001898453
Filing Metadata
- Form type
- 4
- Filed
- Mar 17, 8:00 PM ET
- Accepted
- Mar 18, 5:20 PM ET
- Size
- 19.9 KB