Brett I. Parker - Dec 15, 2021 Form 4 Insider Report for Bowlero Corp. (BOWL)

Role
Chief Financial Officer
Signature
Brett Parker By: , as attorney-in-fact for Brett Parker
Stock symbol
BOWL
Transactions as of
Dec 15, 2021
Transactions value $
-$9,841,360
Form type
4
Date filed
12/17/2021, 07:33 PM
Next filing
Jan 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BOWL Class A Common Stock Award +993K 993K Dec 15, 2021 Direct F1, F2
transaction BOWL Class A Common Stock Award +1.47M +148.3% 2.47M Dec 15, 2021 Direct F2
transaction BOWL Class A Common Stock Tax liability -$6.68M -668K -27.09% $10.00 1.8M Dec 15, 2021 Direct
transaction BOWL Class A Common Stock Award +698K +38.82% 2.5M Dec 15, 2021 Direct F2
transaction BOWL Class A Common Stock Tax liability -$3.16M -316K -12.68% $10.00 2.18M Dec 15, 2021 Direct

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 BOWL Stock Option (Right to Buy) Award $0 +183K $0.00 183K Dec 15, 2021 Class A Common Stock 183K $10.00 Direct
transaction BOWL Stock Option (Right to Buy) Award $0 +394K $0.00 394K Dec 15, 2021 Class A Common Stock 394K $10.00 Direct F3
transaction BOWL Stock Option (Right to Buy) Award $0 +394K $0.00 394K Dec 15, 2021 Class A Common Stock 394K $12.00 Direct F4
transaction BOWL Stock Option (Right to Buy) Award $0 +394K $0.00 394K Dec 15, 2021 Class A Common Stock 394K $14.00 Direct F5
transaction BOWL Stock Option (Right to Buy) Award $0 +394K $0.00 394K Dec 15, 2021 Class A Common Stock 394K $16.00 Direct F6
transaction BOWL Stock Option (Right to Buy) Award $0 +394K $0.00 394K Dec 15, 2021 Class A Common Stock 394K $18.00 Direct F7
transaction BOWL Stock Option (Right to Buy) Award +4.08M 4.08M Dec 15, 2021 Class A Common Stock 4.08M $7.92 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Repressents restricted shares ("Restricted Shares") of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") received in connection with the Acquisition. 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $15.00 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and will otherwise be forfeited on the 5-year anniversary of the closing of the Acquisition.
F2 Represents shares of Class A Common Stock of the Issuer received in exchange for shares of capital stock of Bowlero. Corp ("Legacy Bowlero") in connection with the acquisition by the Issuer of Legacy Bowlero (the "Acquisition").
F3 The stock options will vest and become exercisable in one-third installments on the first, second and third anniversaries of December 15, 2021.
F4 The stock options will vest and become exercisable in one-third installments on the second, third and fourth anniversaries of December 15, 2021.
F5 The stock options will vest and become exercisable in one-third installments on the third, fourth and fifth anniversaries of December 15, 2021.
F6 The stock options will vest and become exercisable in one-third installments on the fourth, fifth and sixth anniversaries of December 15, 2021.
F7 The stock options will vest and become exercisable in one-third installments on the fifth, sixth and seventh anniversaries of December 15, 2021.
F8 Represents stock options received in connection with the Acquisition in exchange for stock options of Legacy Bowlero.