Anthony Yazbeck - Oct 20, 2021 Form 4 Insider Report for WeWork Inc. (WE)

Role
President and Chief Operating Officer
Signature
/s/ Anthony Yazbeck, by Jared DeMatteis as Attorney-in-Fact
Stock symbol
WE
Transactions as of
Oct 20, 2021
Transactions value $
$0
Form type
4
Date filed
10/22/2021, 04:56 PM
Next filing
Feb 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WE Common Stock Award +57.1K 57.1K Oct 20, 2021 Direct F1
transaction WE Common Stock Award +186K 186K Oct 20, 2021 Direct F2, F3
transaction WE Common Stock Award +103K 103K Oct 20, 2021 Direct F2, F4

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 WE Stock Option (right to buy) Award +1.9K 1.9K Oct 20, 2021 Common Stock 1.9K $4.99 Direct F5, F6
transaction WE Stock Option (right to buy) Award +550 550 Oct 20, 2021 Common Stock 550 $4.99 Direct F5, F7
transaction WE Stock Option (right to buy) Award +4.75K 4.75K Oct 20, 2021 Common Stock 4.75K $4.99 Direct F5, F8
transaction WE Stock Option (right to buy) Award +12.6K 12.6K Oct 20, 2021 Common Stock 12.6K $4.99 Direct F5, F9
transaction WE Stock Option (right to buy) Award +11K 11K Oct 20, 2021 Common Stock 11K $4.99 Direct F5, F10
transaction WE Stock Option (right to buy) Award +165K 165K Oct 20, 2021 Common Stock 165K $2.55 Direct F5, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On October 20, 2021, (i) BowX Acquisition Corp. ("BowX") consummated a business combination (the "Business Combination") by and among BowX, BowX Merger Subsidiary Corp., a Delaware corporation ("Merger Sub"), BowX Merger Subsidiary II, LLC, a Delaware limited liability company ("Merger Sub II") and WeWork Inc., a Delaware corporation ("Legacy WeWork"), (ii) BowX changed its name to "WeWork Inc." and (iii) Merger Sub merged with and into Legacy WeWork (the "First Merger") and the surviving corporation of the First Merger merged with and into Merger Sub II. As part of the Business Combination, each share of Legacy WeWork common stock was exchanged for 0.82619 shares of common stock of WeWork Inc.
F2 As part of the Business Combination, each Legacy WeWork RSU was exchanged for 0.82619 RSUs of WeWork Inc.
F3 One third of the RSUs will vest on each of February 1, 2022, February 1, 2023 and February 1, 2024.
F4 One third of the RSUs will vest on each of March 15, 2022, March 15, 2023 and March 15, 2024.
F5 As part of the Business Combination, each Legacy WeWork stock option was exchanged for a stock option to acquire 0.82619 shares of common stock of WeWork Inc.
F6 Options are fully vested and exercisable.
F7 80% of the option was fully vested and exercisable as of March 9, 2021, after which 1/60 of the option vests on the 9th of each month through March 9, 2022.
F8 80% of the option was fully vested and exercisable as of August 1, 2021, after which 1/60 of the option vests on the 1st of each month through August 1, 2022.
F9 60% of the option was fully vested and exercisable as of October 1, 2021, after which 1/60 of the option vests on the 1st of each month through October 1, 2023.
F10 The first 10% of the option is fully vested and exercisable. An additional 15% of the option will vest on each of March 16, 2022, March 16, 2023, March 16, 2024 and March 16, 2025. The final 30% of the option will vest on March 16, 2026.
F11 One third of the option vested and became exercisable on January 15, 2021, after which 1/12 of the option vests on each April 15, July 15, October 15 and January 15 through January 15, 2023.

Remarks:

President and Chief Operating Officer