Chadwick Francois P. 4
4 · Volta Inc. · Filed Aug 30, 2021
Insider Transaction Report
Form 4
Volta Inc.VLTA
Chadwick Francois P.
Chief Financial Officer
Transactions
- Award
Stock Option (right to buy)
2021-08-26+606,750→ 606,750 totalExercise: $9.08Exp: 2031-04-22→ Class A Common Stock (606,750 underlying)
Footnotes (2)
- [F1]On August 26, 2021, pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of February 7, 2021 (the " Business Combination Agreement"), by and among Tortoise Acquisition Corp. II (the "Issuer"), Volta Industries, Inc., a Delaware corporation ("Legacy Volta") and the other parties thereto, the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, the Issuer changed its name to Volta Inc. In connection with the Business Combination and in accordance with the Business Combination Agreement, an option to purchase 500,000 shares of Class B Common Stock of Legacy Volta held by the Reporting Person was converted into an option to purchase 606,750 shares of Class A Common Stock of the Issuer. The issuance of the option was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Exchange Act.
- [F2]The option vests and becomes exercisable as to 1/4th of the total number of shares on April 19, 2022, and thereafter vests and becomes exercisable as to 1/48th of the total number of shares in equal monthly installments.