Insurance Acquisition Sponsor, LLC 4
4 · SHIFT TECHNOLOGIES, INC. · Filed Oct 14, 2020
Insider Transaction Report
Form 4
Insurance Acquisition Sponsor, LLC
10% Owner
Transactions
- Exercise/Conversion
Class B Common Stock
2020-10-13−1,875,000→ 0 total→ Class A Common Stock (2,056,570 underlying) - Exercise/Conversion
Class A Common Stock
2020-10-13+2,056,570→ 2,431,570 total
Holdings
- 187,500
Warrants
Exercise: $11.50From: 2020-11-12Exp: 2025-10-13→ Class A Common Stock (187,500 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.