4/A//SEC Filing
Russell Tobias 4/A
Accession 0001213900-21-006868
CIK 0001762322other
Filed
Feb 3, 7:00 PM ET
Accepted
Feb 4, 7:16 PM ET
Size
9.3 KB
Accession
0001213900-21-006868
Insider Transaction Report
Form 4/AAmended
Russell Tobias
DirectorSee Remarks
Transactions
- Award
Performance Stock Units
2021-02-02+761,068→ 761,068 total→ Class A Common Stock (761,068 underlying) - Award
Class A Common Stock
2021-02-02+2,283,204→ 3,053,781 total
Footnotes (4)
- [F1]Represents a grant of Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of Shift Technologies, Inc. (the "Company"). These RSUs were reported in Table II in the original Form 4 filing. This amendment is being filed to report these RSUs in Table I.
- [F2]The RSUs vest quarterly over the four-year period commencing October 13, 2020, subject to continued employment with the Company or an affiliate of the Company.
- [F3]Includes 109,944 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 October 13, 2020, then 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 such 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 October 13, 2020, then 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 such threshold is reached, such Additional Shares will be released from escrow.
- [F4]Represents a grant of Performance Stock Units ("PSUs"). Each PSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of the Company. The PSUs 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 award agreement). Vested PSUs are settled during the first open trading window of the Company following each calendar quarter.
Documents
Issuer
SHIFT TECHNOLOGIES, INC.
CIK 0001762322
Entity typeother
Related Parties
1- filerCIK 0001828617
Filing Metadata
- Form type
- 4/A
- Filed
- Feb 3, 7:00 PM ET
- Accepted
- Feb 4, 7:16 PM ET
- Size
- 9.3 KB