4//SEC Filing
Nash Adam 4
Accession 0001213900-20-031580
CIK 0001762322other
Filed
Oct 14, 8:00 PM ET
Accepted
Oct 15, 7:18 PM ET
Size
11.5 KB
Accession
0001213900-20-031580
Insider Transaction Report
Form 4
Nash Adam
Director
Transactions
- Award
Non-Qualified Stock Option
2020-10-13+10,160→ 10,160 totalExercise: $0.74Exp: 2020-08-30→ Class A Common Stock (10,160 underlying) - Award
Incentive Stock Option
2020-10-13+12,488→ 12,488 totalExercise: $8.01Exp: 2020-08-30→ Class A Common Stock (12,488 underlying) - Award
Class A Common Stock
2020-10-13+1,836→ 1,836 total(indirect: By Trust)
Footnotes (6)
- [F1]Received in exchange for 17,030 shares of common stock of Shift Technologies, Inc., a Delaware corporation ("Former Shift"), pursuant to the Agreement and Plan of Merger, dated as of June 29, 2020, by and among Insurance Acquisition Corp., a Delaware corporation ("IAC"), Former Shift, and IAC Merger Sub, Inc., a wholly-owned subsidiary of IAC ("Merger Sub") (as amended by that certain First Amendment to Agreement and Plan of Merger, dated as of August 19, 2020, the "Merger").
- [F2]Includes 262 shares held in escrow ("Additional Shares"). If the reported closing sale price of the company's common stock does not exceed $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following the closing of the Merger, which we refer to as the First Threshold, then fifty percent (50%) of the Additional Shares will be returned to the company (and either placed into treasury or retired, in the discretion of the company). If the First Threshold is reached, such Additional Shares will be released from escrow. If the reported closing sale price of our common stock does not exceed $15.00 per share for 20 out of any 30 consecutive trading days during the first 30 months following the closing of the Merger, which we refer to as the Second Threshold, then fifty percent (50%) of the Additional Shares will be returned to the company (and either placed into treasury or retired, in the discretion of the company). If the Second Threshold is reached, such Additional Shares will be released from escrow.
- [F3]The options were granted on August 31, 2020. 0 options have vested. The remaining 10,160 options will vest in one (1) installment on May 14, 2021.
- [F4]Received pursuant to the Merger in exchange for an option to purchase 510,865 shares of Former Shift common stock.
- [F5]The options were granted on August 31, 2020. 0 options have vested. The remaining 12,488 options will vest in one (1) installment on May 14, 2021.
- [F6]Received pursuant to the Merger in exchange for an option to purchase 135,135 shares of Former Shift common stock.
Documents
Issuer
SHIFT TECHNOLOGIES, INC.
CIK 0001762322
Entity typeother
Related Parties
1- filerCIK 0001828622
Filing Metadata
- Form type
- 4
- Filed
- Oct 14, 8:00 PM ET
- Accepted
- Oct 15, 7:18 PM ET
- Size
- 11.5 KB