Elizabeth Sestanovich - May 10, 2022 Form 4 Insider Report for System1, Inc. (SST)

Role: Chief People Officer
Signature: /s/ Daniel Weinrot, Attorney-in-Fact for Elizabeth Sestanovich
Stock symbol: SST
Transactions as of: May 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/12/2022, 09:44 PM
Previous filing: Jan 31, 2022
Next filing: Jun 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Award	$0	+60K	+101.97%	$0.00	119K	May 10, 2022	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Ms. Sestanovich was granted 60,000 restricted stock units ("RSUs") in connection with her continued employment with System1, Inc. ("SST"). Each RSU represents the right to receive one share of SST Class A Common Stock upon vesting. Subject to the continued employment of Ms. Sestanovich through the applicable vesting dates, (i) 3,000 of the RSUs will vest on January 28, 2023, (ii) 9,000 of the RSUs will vest in quarterly installments of 2,250 each on January 28, April 28, July 28 and October 28, 2024 and (iii) the remaining 48,000 RSUs will vest in eight (8) quarterly installments of 6,000 each on the quarterly anniversary thereafter.

Content

Ms. Sestanovich was granted 60,000 restricted stock units ("RSUs") in connection with her continued employment with System1, Inc. ("SST"). Each RSU represents the right to receive one share of SST Class A Common Stock upon vesting. Subject to the continued employment of Ms. Sestanovich through the applicable vesting dates, (i) 3,000 of the RSUs will vest on January 28, 2023, (ii) 9,000 of the RSUs will vest in quarterly installments of 2,250 each on January 28, April 28, July 28 and October 28, 2024 and (iii) the remaining 48,000 RSUs will vest in eight (8) quarterly installments of 6,000 each on the quarterly anniversary thereafter.