4//SEC Filing
Trussell Steven Austin 4
Accession 0001562180-23-002185
CIK 0001651094other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 6:00 PM ET
Size
7.4 KB
Accession
0001562180-23-002185
Insider Transaction Report
Form 4
Trussell Steven Austin
Chief Financial Officer
Transactions
- Disposition to Issuer
Restricted Stock Unit (RSU)
2023-02-28−214,592→ 0 total→ Common Stock (214,592 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of November 16, 2022 (the "Merger Agreement"), by and among Elevate Credit, Inc., ("the Company), PCAM Acquisition Corp ("Parent") and PCAM Merger Sub Corp ("Merger Sub"), the Merger Sub merged with and into the Company ("the Merger") with the Company surviving the Merger as a wholly owned subsidiary of Parent. Pursuant to the Merger Agreement, each RSU granted by the Company that is outstanding immediately prior to the effective time of the Merger (whether or not vested) will immediately vest in full and become free of restrictions, and will be cancelled and converted automatically into the right to receive a cash payment equal to the product of (1) the number of shares of Company Common Stock subject to such RSU as of the effective time of the Merger, multiplied by (2) the Merger Consideration.
- [F2]Pursuant to the Rollover Agreement dated as of February 27, 2023 (the "Rollover Agreement"), among the reporting person and Parent, half of the outstanding RSUs in this grant were cancelled and converted into a right to receive on the vesting date originally applicable to such RSU, subject to the terms applicable to such RSU, shares of Parent. The remaining half of this grant immediately vested in full, free of restrictions, and will be cancelled and converted automatically into the right to receive a cash payment equal to the product of (1) the number of shares of Company Common Stock subject to such RSU as the effective time of the Merger, multiplied by (2) the Merger Consideration. The reporting person was granted 214,592 RSUs on May 15, 2022, vesting in four annual installments, beginning on the first anniversary of the grant date and converting into common stock on a one-for-one basis. For purposes of the Rollover, the reporting person's shares were valued at $1.87 per share.
Documents
Issuer
Elevate Credit, Inc.
CIK 0001651094
Entity typeother
Related Parties
1- filerCIK 0001929450
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 6:00 PM ET
- Size
- 7.4 KB