Patrick Dillon - 15 Jun 2022 Form 4 Insider Report for TuSimple Holdings Inc. (TSPH)

Role: Chief Financial Officer
Signature: /s/ James Mullen, Attorney-in-Fact
Issuer symbol: TSPH
Transactions as of: 15 Jun 2022
Net transactions value: -$13,161
Form type: 4
Filing time: 17 Jun 2022, 20:13:40 UTC
Previous filing: 03 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TSP	Class A Common Stock	Options Exercise		+1,875	+12%		17,218	15 Jun 2022	Direct	F1
transaction	TSP	Class A Common Stock	Sale	$6,793	-1,088	-6.3%	$6.24	16,130	16 Jun 2022	Direct	F2, F3
transaction	TSP	Class A Common Stock	Options Exercise		+1,875	+12%		18,005	16 Jun 2022	Direct	F1
transaction	TSP	Class A Common Stock	Sale	$6,368	-956	-5.3%	$6.66	17,049	17 Jun 2022	Direct	F2

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	-1,875	-4.5%	$0.000000	39,375	15 Jun 2022	Class A Common Stock	1,875		Direct	F4
transaction	TSP	Restricted Stock Unit	Options Exercise	$0	-1,875	-4.8%	$0.000000	37,500	16 Jun 2022	Class A Common Stock	1,875		Direct	F4

* 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	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.
F3	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $6.22 to $6.28, 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 this Form 4.
F4	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. 25% will vest on December 15, 2021 and 6.25% of the RSUs shall vest each quarter thereafter, subject to the Reporting Person's continuous service with the issuer.