4/A//SEC Filing
Aydt Matthias 4/A
Accession 0001628280-23-008842
CIK 0001805521other
Filed
Mar 20, 8:00 PM ET
Accepted
Mar 21, 9:12 PM ET
Size
11.2 KB
Accession
0001628280-23-008842
Insider Transaction Report
Form 4/AAmended
Aydt Matthias
DirectorGlobal Chief Executive Officer
Transactions
- Award
Class A Common Stock
2021-07-21+35,560→ 35,560 total - Award
Class A Common Stock
2021-07-21+20,333→ 55,893 total - Award
Earnout Shares
2021-07-21+4,350→ 4,350 total→ Class A Common Stock (4,350 underlying)
Footnotes (3)
- [F1]1.Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. (the "Issuer"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), each outstanding share of FF common stock held by the Reporting Person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"). On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer was renamed "Faraday Future Intelligent Electric Inc."
- [F2]These shares of restricted stock were granted to the Reporting Person upon Closing and vested 90 days after Closing.
- [F3]Pursuant to the terms of the Merger Agreement, the Reporting Person, as an FF shareholder, received these Earnout Shares, each one of which represents the contingent right to acquire one share of the Issuer's Class A common stock if the trading price of the Issuer's Class A common stock reaches certain thresholds. Specifically, the Earnout Shares vest in equal halves if the trading price of Class A common stock is greater than or equal to $13.50 and $15.50, respectively, for any 20 trading days within any 30-trading day period. The Reporting Person's right to receive the Earnout Shares became fixed and irrevocable at Closing. Any Earnout Shares that have not vested by the fifth anniversary of the Closing will be forfeited.
Documents
Issuer
FARADAY FUTURE INTELLIGENT ELECTRIC INC.
CIK 0001805521
Entity typeother
Related Parties
1- filerCIK 0001872656
Filing Metadata
- Form type
- 4/A
- Filed
- Mar 20, 8:00 PM ET
- Accepted
- Mar 21, 9:12 PM ET
- Size
- 11.2 KB