4//SEC Filing
Russell Tobias 4
Accession 0001213900-21-020245
CIK 0001762322other
Filed
Apr 4, 8:00 PM ET
Accepted
Apr 5, 8:24 PM ET
Size
14.6 KB
Accession
0001213900-21-020245
Insider Transaction Report
Form 4
Russell Tobias
DirectorSee Remarks
Transactions
- Other
Class A Common Stock
2021-04-05−1,044,272→ 2,099,509 total - Award
Class A Common Stock
2021-04-05+1,044,272→ 3,053,781 total
Footnotes (5)
- [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").
- [F2]These previously-granted awards have been cancelled.
- [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]The RSUs vest quarterly in accordance with the vesting schedule set forth in the Grant Agreement over the four-year period commencing October 13, 2020, subject to continued employment with the Company or an affiliate of the Company.
- [F5]These awards were granted to the Reporting Person in replacement of the cancelled awards described in footnote 2 above.
Documents
Issuer
SHIFT TECHNOLOGIES, INC.
CIK 0001762322
Entity typeother
Related Parties
1- filerCIK 0001828617
Filing Metadata
- Form type
- 4
- Filed
- Apr 4, 8:00 PM ET
- Accepted
- Apr 5, 8:24 PM ET
- Size
- 14.6 KB