Reinvent Sponsor LLC - 10 Aug 2021 Form 4 Insider Report for Joby Aviation, Inc. (JOBY)

Role
FORMER 10% OWNER
Signature
/s/ David Cohen as attorney-in-fact for Reinvent Sponsor LLC
Issuer symbol
JOBY
Transactions as of
10 Aug 2021
Net transactions value
+$17,300,000
Form type
4
Filing time
12 Aug 2021, 20:00:28 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction JOBY Common Stock Conversion of derivative security +17,130,000 17,130,000 10 Aug 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 JOBY Class B Ordinary Shares Conversion of derivative security -17,130,000 -100% 0 10 Aug 2021 Common Stock 17,130,000 Direct F1, F2
transaction JOBY Private Placement Warrants Other $17,300,000 +11,533,333 $1.50* 11,533,333 10 Aug 2021 Common Stock 11,533,333 $11.50 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Reinvent Sponsor LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 100% of such shares are subject to vesting in tranches of 20% if the volume weighted average price of the Issuer's common stock, equals or exceeds $12.00, $18.00, $24.00, $32.00 or $50.00, respectively, for any 20 trading days within a 30 trading day period on or prior to the tenth anniversary of the business combination of Reinvent Technology Partners (the former name of the Issuer) ("RTP") and Joby Aero, Inc. (the "Business Combination"). On August 10, 2031, any unvested shares will be automatically forfeited. In the event the Issuer completes a transaction that results in a change of control, all unvested shares will vest immediately prior to the closing of such transaction.
F2 On August 10, 2021, RTP consummated the Business Combination. Pursuant to the Business Combination, RTP domesticated as a Delaware corporation and changed its name to "Joby Aviation, Inc.", and each RTP Class B ordinary share was automatically converted into the right to receive one share of the Issuer's common stock.
F3 Represents Private Placement Warrants acquired from the Issuer in connection with the Issuer's initial public offering. Each warrant is exercisable for one share of common stock at an exercise price of $11.50 per share, subject to certain adjustments. The warrants may be exercised commencing on the later of 12 months from the closing of the Issuer's initial public offering and 30 days after the completion of the Issuer's initial business combination and expire five years after consummation of the Business Combination or earlier upon redemption or liquidation.