Garth Mitchell - Jun 4, 2021 Form 4 Insider Report for Latch, Inc. (LTCH)

Role
CFO & Treasurer
Signature
/s/ Priyen Patel, Attorney-in-fact
Stock symbol
LTCH
Transactions as of
Jun 4, 2021
Transactions value $
$0
Form type
4
Date filed
6/8/2021, 07:05 PM
Next filing
Sep 15, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTCH Common Stock Award +75.9K 75.9K Jun 4, 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 +280K 280K Jun 4, 2021 Common Stock 280K $0.68 Direct F1, F2
transaction LTCH Stock Option Award +228K 228K Jun 4, 2021 Common Stock 228K $1.02 Direct F1, F3
* 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 24,319 of the underlying shares, and the remaining shares will vest in equal monthly installments until fully vested on February 18, 2023.
F3 The stock option is currently vested and exercisable as to 20,758 of the underlying shares, and the remaining shares will vest in equal monthly installments until fully vested on December 1, 2023.