Cheng Lu - Sep 7, 2021 Form 4 Insider Report for TuSimple Holdings Inc. (TSP)

Role
President and Chief Executive Officer, Director
Signature
/s/ Laura Donald - Attorney-in-Fact
Stock symbol
TSP
Transactions as of
Sep 7, 2021
Transactions value $
-$3,609,553
Form type
4
Date filed
9/9/2021, 09:16 PM
Previous filing
Sep 7, 2021
Next filing
Sep 13, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSP Class A Common Stock Options Exercise +108K +7.99% 1.46M Sep 7, 2021 Direct F1
transaction TSP Class A Common Stock Sale -$1.79M -44.5K -3.03% $40.15* 1.42M Sep 8, 2021 Direct F2, F3
transaction TSP Class A Common Stock Sale -$3.33K -81 -0.01% $41.13* 1.42M Sep 8, 2021 Direct F2, F4
transaction TSP Class A Common Stock Options Exercise +108K +7.63% 1.53M Sep 8, 2021 Direct F1
transaction TSP Class A Common Stock Sale -$1.82M -43.3K -2.83% $42.10* 1.49M Sep 9, 2021 Direct F2, F5
holding TSP Class A Common Stock 900K Sep 7, 2021 By LLC F6

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 TSP Restricted Stock Unit Options Exercise -108K -13.83% 675K Sep 7, 2021 Class A Common Stock 108K Direct F7
transaction TSP Restricted Stock Unit Options Exercise -108K -16.05% 567K Sep 8, 2021 Class A Common Stock 108K Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received Restricted Stock Units ("RSUs") that represent a contingent right to receive one share of Class A Common Stock for each RSU upon the satisfaction of applicable vesting conditions. The shares were issued pursuant to vested RSUs.
F2 The sales reported represent shares of Class A Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the previously reported vesting and settlement of RSUs. These sales are mandated by the issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $39.73 to $40.70, inclusive. The Reporting Person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in footnotes 3 through 5 of this Form 4.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $40.75 to $41.26, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $41.65 to $42.63, inclusive.
F6 The shares are held by Hickory Wood Grove LLC, a limited liability company incorporated in Delaware and beneficially owned by the Reporting Person.
F7 Represents the settlement of a vested RSU. The Reporting Person was previously granted RSUs that represent a contingent right to receive one share of Class A Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied over a three-year period. 30% of the RSUs vested on June 30, 2020 and 8.75% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the issuer.

Remarks:

President and Chief Executive Officer