Scott Staples - Jun 22, 2021 Form 4 Insider Report for FIRST ADVANTAGE CORP (FA)

Role: Chief Executive Officer, Director
Signature: /s/ Bret T. Jardine, Attorney-in-Fact
Stock symbol: FA
Transactions as of: Jun 22, 2021
Transactions value $: -$3,583,949
Form type: 4
Date filed: 6/29/2021, 04:41 PM
Next filing: Jun 23, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FA	Common Stock	Sale	-$3.58M	-256K	-5.81%	$14.03	4.14M	Jun 25, 2021	Direct	F1, F2

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	FA	Stock Options (Right to Buy)	Award	$0	+1.07M		$0.00	1.07M	Jun 22, 2021	Common Stock	1.07M	$15.00	Direct	F3, F4
transaction	FA	Stock Options (Right to Buy)	Award	$0	+14.4K	+1.34%	$0.00	1.09M	Jun 25, 2021	Common Stock	14.4K	$15.00	Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	This amount represents the $15.00 initial public offering price per share of common stock of First Advantage Corporation (the "Issuer"), less the underwriting discount of $0.975 per share for shares sold pursuant to the issuer's initial public offering.
F2	Represents shares of common stock received in a distribution from Fastball Holdco, L.P. in respect of certain of the reporting person's previously held interests in Fastball Holdco, L.P. Of these shares of common stock, 1,945,388 are unvested, of which, (i) 871,119 shares of common stock are subject to time-based vesting requirements and will vest in equal annual installments on January 31, 2022, 2023, 2024 and 2025, subject to continued service through such dates, and (ii) 1,074,269 shares of common stock are subject to time and performance-based vesting conditions and will vest in equal installments on the dates described above or later dates subject to additional performance-based vesting requirements.
F3	Of these options, 858,402 are unvested options which will vest in equal annual installments on January 31, 2022, 2023, 2024 and 2025, subject to continued service through such dates. Does not include unvested performance-based options which will be reported when earned upon achievement of certain performance criteria.
F4	Represents stock options received by the reporting person in connection with the dissolution of Fastball Holdco, L.P. in respect of certain of the reporting person's previously held interests in Fastball Holdco, L.P. These securities were previously reported on the Form 3 filed by the Reporting Person.
F5	Represents the vesting of a portion of performance-based stock options in connection with the satisfaction of certain performance-based vesting conditions upon the closing of the Issuer's initial public offering.