Eric R. Tapia - May 2, 2022 Form 4 Insider Report for TuSimple Holdings Inc. (TSP)

Role
Vice President, Global Controller
Signature
/s/ James Mullen - Attorney-in-Fact
Stock symbol
TSP
Transactions as of
May 2, 2022
Transactions value $
-$26,010
Form type
4
Date filed
5/3/2022, 08:57 PM
Previous filing
Jul 1, 2021
Next filing
Jul 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSP Class A Common Stock Options Exercise +4.13K +544.91% 4.88K May 2, 2022 Direct F1, F2
transaction TSP Class A Common Stock Sale -$12.8K -1.23K -25.24% $10.37* 3.65K May 2, 2022 Direct F3, F4
transaction TSP Class A Common Stock Options Exercise +4.13K +113.01% 7.78K May 3, 2022 Direct F1
transaction TSP Class A Common Stock Sale -$13.2K -1.29K -16.62% $10.24* 6.48K May 3, 2022 Direct F3

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 TSP Restricted Stock Unit Options Exercise $0 -4.13K -12.5% $0.00 28.9K May 2, 2022 Class A Common Stock 4.13K Direct F5
transaction TSP Restricted Stock Unit Options Exercise $0 -4.13K -14.29% $0.00 24.8K May 3, 2022 Class A Common Stock 4.13K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received Restricted Stock Units ("RSUs") that represent a contingent right to receive one share of Class A Common Stock for each RSU upon the satisfaction of applicable vesting conditions. The shares were issued pursuant to vested RSUs.
F2 Includes 757 shares acquired under the Issuer's 2021 Employee Stock Purchase Plan on February 28, 2022. This transaction is exempt pursuant to Rule 16b-3(c).
F3 The sales reported represent shares of Class A Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. These sales are mandated by the issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $10.28 to $10.57, inclusive. The Reporting Person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in footnote 4 of this Form 4.
F5 The Reporting Person was granted RSUs which represent a contingent right to receive one share of Class A Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied over a four-year period, with 25% of the RSUs vesting on each anniversary of May 3, 2021, subject to the Reporting Person's continuous service with the issuer on each such date.

Remarks:

Vice President, Global Controller