Eric Hedrick - 17 Dec 2021 Form 4 Insider Report for EQRx, Inc.

Reporting relationship: Chief Physician Executive
Issuer ticker: N/A
Reported as of: 17 Dec 2021
Net transaction value: $0
SEC form: 4
Accepted by SEC: 21 Dec 2021, 05:30:46 UTC
Next SEC filing: 01 Mar 2022
Source filing: View source filing
Reporting owner signature: /s/ William Collins, Attorney-in-Fact

Key filing fact

Eric Hedrick filed Form 4 for EQRx, Inc. on 21 Dec 2021.

Key facts

This page summarizes Eric Hedrick's Form 4 filing for EQRx, Inc..
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 21 Dec 2021, 05:30.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

EQRX transaction

Common Stock

Award

Transaction value
Shares: +627,000
Change %
Price
Shares after: 627,000
Date: 17 Dec 2021
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

EQRX transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +125,399
Change %
Price: $0.000000
Shares after: 125,399
Date: 17 Dec 2021
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 125,399
Exercise price: $2.21
Footnotes: F2

EQRX transaction Derivative

Earn-out Shares

Award

Transaction value
Shares: +103,069
Change %
Price
Shares after: 103,069
Date: 17 Dec 2021
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 103,069
Exercise price
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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. One-fourth of the shares underlying this option vest and become exercisable on January 20, 2022 (the one-year anniversary of the grant date), with the remainder vesting in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous service as of each vesting date.

Footnote F3

Upon consummation of the Business Combination, the Reporting Person received the right to acquire an aggregate of 103,069 shares of the Issuer's Common Stock (the "Earn-out Shares"), (i) 72,149 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) 30,920 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.