Sandra Horning - Dec 17, 2021 Form 4 Insider Report for EQRx, Inc. (EQRX)

Role
Director
Signature
/s/ William Collins, Attorney-in-Fact
Stock symbol
EQRX
Transactions as of
Dec 17, 2021
Transactions value $
$0
Form type
4
Date filed
12/21/2021, 05:30 AM
Previous filing
Jun 10, 2021
Next filing
May 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EQRX Common Stock Award +470K 470K Dec 17, 2021 Direct F1

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 EQRX Stock Option (Right to Buy) Award $0 +314K $0.00 314K Dec 17, 2021 Common Stock 314K $0.44 Direct F2
transaction EQRX Earn-out Shares Award +107K 107K Dec 17, 2021 Common Stock 107K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 17, 2021, upon consummation of the transactions (the "Closing" of the "Business Combination") contemplated by the Agreement and Plan of Merger dated August 5, 2021 (the "Merger Agreement") by and among the Issuer (f/k/a CM Life Sciences III Inc.), Clover III Merger Sub Inc. and EQRx International, Inc. (f/k/a EQRx, Inc., "Legacy EQRx"), each share of Legacy EQRx capital stock was exchanged, pursuant to the Merger Agreement, for shares of the Issuer's Common Stock.
F2 These options were issued under the Legacy EQRx 2019 Stock Option and Grant Plan (the "2019 Plan") and were assumed in the Business Combination pursuant to the terms of the Merger Agreement and the 2019 Plan and are now exercisable for shares of the Issuer's Common Stock. The shares underlying this option vest and become exercisable in 16 equal quarterly installments commencing August 21, 2020, subject to the Reporting Person's continuous service as of each vesting date.
F3 Upon consummation of the Business Combination, the Reporting Person received the right to acquire 107,364 shares of the Issuer's Common Stock (the "Earn-out Shares"), (i) 75,155 of which will be released from escrow if the value weighted average price ("VWAP") for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $12.50; and (ii) 32,209 of which will be released from such escrow if the VWAP for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $16.50. Any Earn-out Shares not eligible to be released on or prior to December 17, 2024 will be forfeited and cancelled, and the maximum number of Earn-out Shares the Reporting Person may be eligible to acquire is subject to adjustment per the terms of the Merger Agreement.