Kohl Nadya 4
4 · Volta Inc. · Filed Aug 30, 2021
Insider Transaction Report
Form 4
Volta Inc.VLTA
Kohl Nadya
Chief Marketing Officer
Transactions
- Award
Class A Common Stock
2021-08-26+161,935→ 161,935 total - Award
Stock Option (right to buy)
2021-08-26+60,675→ 60,675 totalExercise: $3.71Exp: 2031-01-21→ Class A Common Stock (60,675 underlying)
Footnotes (3)
- [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, 133,444 shares of Class B Common Stock of Legacy Volta held by the Reporting Person were converted into 161,935 shares of Class A Common Stock of the Issuer. The issuance of the shares was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
- [F2]In connection with the Business Combination and in accordance with the Business Combination Agreement, an option to purchase 50,000 shares of Class B Common Stock of Legacy Volta held by the Reporting Person was converted into an option to purchase 60,675 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.
- [F3]The option vests and becomes exercisable as to 1/4th of the total number of shares on January 22, 2022, and thereafter vests and becomes exercisable as to 1/48th of the total number of shares in equal monthly installments.