Gupta Karan 4
4 · SHIFT TECHNOLOGIES, INC. · Filed Dec 6, 2021
Insider Transaction Report
Form 4
Gupta Karan
See Remarks
Transactions
- Award
Performance Stock Units
2021-12-02+25,000→ 25,000 totalExercise: $0.00→ Class A Common Stock (25,000 underlying) - Award
Class A Common Stock
2021-12-02+75,000→ 213,462 total
Footnotes (3)
- [F1]Each Restricted Stock Unit ("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]25% of the RSUs vest in March 2023, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
- [F3]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 in March 2024, 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.