Horowitz Steven Michael 4
4 · Snap Inc · Filed Nov 20, 2017
Insider Transaction Report
Form 4
Snap IncSNAP
Horowitz Steven Michael
Vice President of Engineering
Transactions
- Conversion
Class B Common Stock
2017-11-16−143,166→ 2,236,232 totalExercise: $0.00→ Class A Common Stock (143,166 underlying) - Conversion
Class A Common Stock
2017-11-16+143,166→ 2,532,598 total - Sale
Class A Common Stock
2017-11-16$12.54/sh−286,332$3,590,145→ 2,246,266 total
Footnotes (6)
- [F1]Represents shares of Class B Common Stock converted into shares of Class A Common Stock at the option of the reporting person.
- [F2]Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the issuer to the reporting person.
- [F3]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.38 to $12.67 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]Represents the settlement and release of RSUs granted by the issuer to the reporting person which were subsequently converted to Class A Common Stock and sold to cover tax withholding obligations. Each RSU represents a contingent right to receive one share of issuer's Class B Common Stock.
- [F5]As reported on a Form 3 filed on March 1, 2017, the reporting person was granted 3,192,207 RSUs, of which 10% vest once the reporting person completes 12 months of continuous service from January 26, 2015; 20% vest in equal quarterly installments during the second 12-month period of reporting person's continuous service; 30% vest in equal quarterly installments during the third 12-month period of reporting person's continuous service; and 40% vest in equal quarterly installments during the fourth 12-month period of reporting person's continuous service.
- [F6]The Class B Common Stock has no expiration date.