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

Role
Chief Product Officer
Signature
/s/ Mitch Karren
Issuer symbol
SMRT
Transactions as of
24 Aug 2021
Net transactions value
$0
Form type
4
Filing time
26 Aug 2021, 20:41:28 UTC
Next filing
20 Jan 2022
SEC
View on sec.gov

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 +1,421,613 $0.000000 1,421,613 24 Aug 2021 Class A Common Stock 1,421,613 $0.4700 Direct F1, F2
transaction SMRT Restricted Stock Units Award $0 +293,073 $0.000000 293,073 24 Aug 2021 Class A Common Stock 293,073 Direct F1, F3, F4
transaction SMRT Restricted Stock Units Award $0 +8,763 $0.000000 8,763 24 Aug 2021 Class A Common Stock 8,763 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.