Luke Schoenfelder - Jun 4, 2021 Form 4 Insider Report for Latch, Inc. (LTCH)

Role: Chief Executive Officer, Director
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, 07:11 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTCH	Common Stock	Award		+1.18M			1.18M	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		+1.8M			1.8M	Jun 4, 2021	Common Stock	1.8M	$0.23	Direct	F1, F2
transaction	LTCH	Stock Option	Award		+3.13M			3.13M	Jun 4, 2021	Common Stock	3.13M	$0.68	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 fully vested.
F3	The stock option is currently vested and exercisable as to 2,150,768 of the underlying shares, and the remaining shares will vest in equal monthly installments until fully vested on August 9, 2022.