Ali Hussain - 04 Jun 2021 Form 4 Insider Report for Latch, Inc. (LTCH)

Role: Chief Operating Officer
Signature: /s/ Priyen Patel, Attorney-in-fact
Issuer symbol: LTCH
Transactions as of: 04 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 08 Jun 2021, 19:04:39 UTC
Next filing: 15 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTCH	Common Stock	Award		+405,909			405,909	04 Jun 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LTCH	Stock Option	Award		+592,460			592,460	04 Jun 2021	Common Stock	592,460	$0.6800	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the business combination of TS Innovation Acquisitions Corp. and Latch, Inc. ("Legacy Latch"), each share of Legacy Latch outstanding common and preferred stock and each outstanding convertible note was automatically converted into the right to receive shares of the Issuer's Common Stock based on a 1-to-0.8971 conversion ratio (the "Conversion Ratio"). In addition, each outstanding Legacy Latch equity award was automatically converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Legacy Latch equity awards.
F2	The stock option is currently vested and exercisable as to 361,359 of the underlying shares, and the remaining shares will vest in equal monthly installments until fully vested on August 9, 2022.

Content

Pursuant to the business combination of TS Innovation Acquisitions Corp. and Latch, Inc. ("Legacy Latch"), each share of Legacy Latch outstanding common and preferred stock and each outstanding convertible note was automatically converted into the right to receive shares of the Issuer's Common Stock based on a 1-to-0.8971 conversion ratio (the "Conversion Ratio"). In addition, each outstanding Legacy Latch equity award was automatically converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Legacy Latch equity awards.

The stock option is currently vested and exercisable as to 361,359 of the underlying shares, and the remaining shares will vest in equal monthly installments until fully vested on August 9, 2022.