Russell Tobias 4
4 · SHIFT TECHNOLOGIES, INC. · Filed Feb 3, 2021
Insider Transaction Report
Form 4
Russell Tobias
DirectorSee Remarks
Transactions
- Award
Restricted Stock Units
2021-02-02+1,522,136→ 1,522,136 total→ Class A Common Stock (1,522,136 underlying) - Award
Restricted Stock Units
2021-02-02+761,068→ 761,068 total→ Class A Common Stock (761,068 underlying) - Award
Restricted Stock Units
2021-02-02+761,068→ 761,068 total→ Class A Common Stock (761,068 underlying)
Footnotes (4)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock, par value $0.001 per share, of Shift Technologies, Inc. (the "Company").
- [F2]The RSUs vest quarterly over the two-year period following October 13, 2020, subject to continued employment with the Company or an affiliate of the Company. Vested RSUs are settled during the first open trading window of the Company following each calendar quarter; however, any RSUs vested on or before December 31, 2021 shall be settled during the first open trading window of the Company following December 31, 2021.
- [F3]The RSUs vest quarterly over the two-year period commencing on October 13, 2022, subject to continued employment with the Company or an affiliate of the Company. Vested RSUs are settled during the first open trading window of the Company following each calendar quarter; however, any RSUs vested on or before December 31, 2021 shall be settled during the first open trading window of the Company following December 31, 2021.
- [F4]The RSUs vest quarterly over the two-year period commencing on October 13, 2022, subject to the achievement of the applicable pre-determined performance target for the applicable performance year and the continued employment with the Company or an affiliate of the Company (subject to certain exceptions for termination without cause or for good reason as described in the RSU Agreement). Vested RSUs are settled during the first open trading window of the Company following each calendar quarter.