4//SEC Filing
Liu Pai 4
Accession 0001209191-22-042579
CIK 0001822250other
Filed
Jul 18, 8:00 PM ET
Accepted
Jul 19, 4:50 PM ET
Size
19.8 KB
Accession
0001209191-22-042579
Insider Transaction Report
Form 4
Liu Pai
Vice President of Data Science
Transactions
- Tax Payment
Class A Common Stock
2022-07-15$1.49/sh−2,439$3,634→ 4,956 total - Conversion
Class A Common Stock
2022-07-15+4,917→ 7,395 total - Exercise/Conversion
Restricted Stock Unit
2022-07-15−2,457→ 63,896 totalExercise: $0.00Exp: 2027-09-09→ Class B Common Stock (2,457 underlying) - Exercise/Conversion
Class B Common Stock
2022-07-15+2,460→ 2,460 total→ Class A Common Stock (2,460 underlying) - Exercise/Conversion
Class B Common Stock
2022-07-15+2,457→ 4,917 total→ Class A Common Stock (2,457 underlying) - Exercise/Conversion
Restricted Stock Unit
2022-07-15−2,460→ 36,860 totalExercise: $0.00Exp: 2026-11-22→ Class B Common Stock (2,460 underlying) - Conversion
Class B Common Stock
2022-07-15−4,917→ 0 total→ Class A Common Stock (4,917 underlying)
Footnotes (7)
- [F1]Represents the conversion of Class B Common Stock, issued upon settlement of vested Restricted Stock Units ("RSUs"), into Class A Common Stock held of record by the Reporting Person.
- [F2]Represents the number of shares held by the Issuer to satisfy the tax withholding obligation in connection with the settlement of RSUs.
- [F3]This reported transaction represents the settlement of RSUs vested as of July 15, 2022.
- [F4]Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 25% of the RSUs vested on September 23, 2020, and an additional 1/36th of the RSUs vest monthly thereafter for a period of 3 years.
- [F5]All shares of Class B Common Stock will automatically convert, on a one-for-one basis, into shares of Class A Common Stock on the earliest of (i) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions, (ii) the 7-year anniversary of the closing date of the issuer's initial public offering, (iii) the date on which the number of outstanding shares of Class B Common Stock represents less than 5% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock, (iv) the date specified by a vote of the holders of a majority of the then outstanding shares of Class B common stock, or (v) a date that is between 90 and 270 days, as determined by the board of directors, after the death or permanent incapacity of the issuer's founder, CEO, and Chairperson.
- [F6]Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except certain permitted transfers.
- [F7]Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly beginning on October 1, 2020 for a period of 4 years.
Documents
Issuer
ContextLogic Inc.
CIK 0001822250
Entity typeother
Related Parties
1- filerCIK 0001831941
Filing Metadata
- Form type
- 4
- Filed
- Jul 18, 8:00 PM ET
- Accepted
- Jul 19, 4:50 PM ET
- Size
- 19.8 KB