Robert T. Best - Aug 24, 2021 Form 4 Insider Report for SmartRent, Inc. (SMRT)

Role: Director
Signature: /s/ Robert T. Best
Stock symbol: SMRT
Transactions as of: Aug 24, 2021
Transactions value $: $0
Form type: 4
Date filed: 8/26/2021, 08:40 PM
Next filing: May 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SMRT	Class A Common Stock	Award		+4.6M			4.6M	Aug 24, 2021	Best Family Trust, est. October 2, 2001	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	SMRT	Restricted Stock Units	Award	$0	+20.7K		$0.00	20.7K	Aug 24, 2021	Class A Common Stock	20.7K		Direct	F3, F4
transaction	SMRT	Restricted Stock Units	Award	$0	+12.4K		$0.00	12.4K	Aug 24, 2021	Class A Common Stock	12.4K		Direct	F3, F5

* 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 Fifth Wall Acquisition Corp. I and SmartRent.com, Inc. ("Legacy SmartRent"), each share of Legacy SmartRent outstanding common and preferred stock and common stock underlying outstanding warrants was automatically converted into shares of the issuer's Class A Common Stock based on a 1-to-4.8846 exchange ratio (the "Exchange Ratio"). In addition, each outstanding Legacy SmartRent equity award was automatically converted into a corresponding equity award of the issuer based on the Exchange Ratio and with the same terms and vesting conditions as the Legacy SmartRent equity awards.
F2	Mr. Best, as trustee, has voting and dispositive power over the trust assets and Mr. Best, Mrs. Sheri Best (wife), Colin Best (son), Ryan Best (son), Connor Best (son), and Cameron Doering (daughter) are the beneficiaries of the trust.
F3	Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock.
F4	One-third of the restricted stock units vest on August 24, 2022, and one-third will vest on the 12-month anniversary thereof each year until vested in full.
F5	The restricted stock units will vest in full on the earlier of (a) August 24, 2022 or (b) the date immediately prior to the next annual meeting of the issuer's stockholders occurring after the date of grant.