Coliseum Capital Management, LLC - Jun 9, 2021 Form 4 Insider Report for Lazydays Holdings, Inc. (LAZY)

Role: Director, 10%+ Owner
Signature: Coliseum Capital Management, LLC, By: /s/ Thomas Sparta, Attorney-in-fact Thomas Sparta, Attorney-in-fact
Stock symbol: LAZY
Transactions as of: Jun 9, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/11/2021, 04:05 PM
Previous filing: May 25, 2021
Next filing: Jun 28, 2021

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	LAZY	Call Option (right to buy)	Award	$0	+4K		$0.00	4K	Jun 9, 2021	Common Stock, par value $0.0001	4K	$23.11	See footnotes	F1, F2, F3, F4, F5

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

Explanation of Responses:

Id	Content
F1	The option reported herein (the "Option") entitles the holder to purchase one share of the Issuer's common stock, par value $0.0001 ("Common Stock"), at a price of $23.11 per share. The Option was received by Coliseum Capital Partners, L.P. ("CCP") pursuant to an agreement (the "Agreement") under which Christopher Shackelton ("Shackelton") assigned to CCP the right to receive all compensation (including equity compensation) that Shackelton would otherwise receive as a director of the Issuer.
F2	Option shall vest in accordance with the following schedule: (i) 33% of the shares underlying the Option vests on June 9, 2022; (ii) 33% of the shares underlying the Option vests on June 9, 2023; and (iii) 34% of the shares underlying the Option vests on June 9, 2024.
F3	The Option shall expire on June 9, 2026, which is the fifth anniversary of the grant date, or, if earlier, the date on which the Option is terminated or forfeited in accordance with the provisions of the Agreement.
F4	The Option is held directly by CCP, an investment limited partnership of which Coliseum Capital, LLC, a Delaware limited liability company ("CC"), is general partner and for which Coliseum Capital Management, LLC, a Delaware limited liability company ("CCM"), serves as investment adviser.
F5	Shackelton and Adam Gray ("Gray") are managers of and have an ownership interest in each of CCM and CC. Each of Shackelton, Gray, CCP, CC and CCM disclaims beneficial ownership of these securities except to the extent of that person's pecuniary interest therein.

Remarks:

Shackelton is a director of the Issuer. As a result, the following persons may be deemed directors by deputization of the Issuer solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended: CCM, CC, CCP, and Gray.