Posner Sasson 4
4 · SHIFT TECHNOLOGIES, INC. · Filed Oct 14, 2020
Insider Transaction Report
Form 4
Posner Sasson
Director
Transactions
- Exercise/Conversion
Class A Common Stock
2020-10-13+16,453→ 16,453 total - Exercise/Conversion
Class B Common Stock
2020-10-13−15,000→ 0 total→ Class A Common Stock (16,453 underlying)
Footnotes (1)
- [F1]On October 13, 2020, the issuer acquired Shift Technologies, Inc. ("Shift") by the merger (the "Merger") of IAC Merger Sub, Inc., a wholly-owned subsidiary of the issuer, with and into Shift, with Shift surviving as a wholly-owned subsidiary of the issuer. As a result of the Merger, each of the issuer's outstanding shares of Class B Common Stock converted automatically into 1.096837 shares of Class A Common Stock.