Lu Cheng 4
4 · TuSimple Holdings Inc. · Filed Dec 16, 2022
Insider Transaction Report
Form 4
Lu Cheng
DirectorPresident and CEO
Transactions
- Award
Performance Stock Units
2022-12-14+3,425,000→ 3,425,000 total→ Class A Common Stock (3,425,000 underlying) - Award
Restricted Stock Units
2022-12-14+3,425,000→ 3,425,000 total→ Class A Common Stock (3,425,000 underlying)
Footnotes (2)
- [F1]The Reporting Person was granted Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Class A Common Stock for each RSU. These RSUs are subject to a service-based vesting requirement, which shall vest in four equal annual installments beginning on November 10, 2023, provided that the Reporting Person remains in continuous service on each such vesting date.
- [F2]The Reporting Person was granted RSUs which represent a contingent right to receive one share of Class A Common Stock for each RSU. These RSUs are subject to both performance and service-based vesting requirements. The performance-based vesting requirements shall be satisfied if the Issuer's average closing price over a 60-day trailing period exceeds certain thresholds at any time on or before November 10, 2026 as follows: (a) 33% of the RSUs shall performance vest if such average closing price equals or exceeds $10.00, (b) 33% of the RSUs shall performance vest if such average closing price equals or exceeds $15.00, and (c) 33% of the RSUs shall performance vest if such average closing price equals or exceeds $20.00. The service-based vesting requirements shall vest in four equal annual installments beginning on November 10, 2023, provided that the Reporting Person remains in continuous service on each such vesting date.