Mitch Karren - Aug 24, 2021 Form 4 Insider Report for SmartRent, Inc. (SMRT)

Role
Chief Product Officer
Signature
/s/ Mitch Karren
Stock symbol
SMRT
Transactions as of
Aug 24, 2021
Transactions value $
$0
Form type
4
Date filed
8/26/2021, 08:41 PM
Next filing
Jan 20, 2022

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 Employee Stock Options (Right to Buy) Award $0 +1.42M $0.00 1.42M Aug 24, 2021 Class A Common Stock 1.42M $0.47 Direct F1, F2
transaction SMRT Restricted Stock Units Award $0 +293K $0.00 293K Aug 24, 2021 Class A Common Stock 293K Direct F1, F3, F4
transaction SMRT Restricted Stock Units Award $0 +8.76K $0.00 8.76K Aug 24, 2021 Class A Common Stock 8.76K 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 The stock option is currently vested and exercisable as to 1,362,379 shares, with the remaining shares vesting in 1/48 equal monthly installments until fully vested on October 23, 2021.
F3 Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock.
F4 The restricted stock units shall vest as follows: one-fourth shall vest on April 19, 2022 with the remaining vesting in 1/48 equal monthly installments until vested in full.
F5 The restricted stock units shall vest as follows: one-fourth shall vest on August 24, 2022, with the remaining vesting in 1/48 equal monthly installments until vested in full.