Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
holding | RKLB | Restricted Stock Units | Aug 25, 2021 | Common Stock | 362K | Direct | F1 | |||||||
holding | RKLB | Earnout Rights (restricted stock units) | Aug 25, 2021 | Common Stock | 29.3K | Direct | F2 |
Id | Content |
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F1 | Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock. The RSUs are subject to time-based vesting conditions, with one-third of the RSUs vesting on August 22, 2022 and the remaining two-thirds of the RSUs vesting in eight substantially equal quarterly installments on each November 22nd, March 1st, May 22nd and August 22nd thereafter, subject, in each case, to the reporting person's continued service to the issuer. The RSUs are also subject to liquidity-based vesting conditions, which will be satisfied upon the first to occur of (i) a sale event with respect to the issuer or (ii) the issuer's initial public offering, in either case, prior to the expiration date of June 3, 2028. The time-based vesting schedule for these RSUs was incorrectly described in the reporting person's original Form 3. |
F2 | Each earnout right represents a contingent right (based on the reporting person's ownership of RSUs) to receive one share of the issuer's common stock. The earnout rights vest upon the issuer's common stock achieving a closing price per share equal to or greater than $20.00 for a period of at least 20 trading days out of 30 consecutive trading days during the period commencing on the 90th day following August 25, 2021 and ending on the 180th day following August 25, 2021. If the earnout rights vest, the reporting person's RSUs will be adjusted to relate to an additional number of shares of the issuer's common stock equal to the number of earnout rights that vest. If the target closing stock price is not achieved during such period, the earnout rights will be forfeited. |