| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NKLA | Common Stock, par value $0.0001 per share ("Common Stock") | Other | -3,552,006 | -100% | 0 | 24 Nov 2021 | See footnotes | F1, F5 | ||
| transaction | NKLA | Common Stock | Gift | -1,780,438 | -98% | 37,682 | 26 Nov 2021 | Direct | F2, F3, F5 | ||
| holding | NKLA | Common Stock | 10,275,437 | 24 Nov 2021 | See footnotes | F4, F5 |
| Id | Content |
|---|---|
| F1 | Represents a pro rata in-kind distribution (the "Pro Rata Distribution") of shares of common stock of Nikola Corporation (the "Issuer") by Spring NM, LLC ("Spring NM") to the members of Spring NM without consideration. The Reporting Person is the managing member of Spring NM. |
| F2 | The Reporting Person received 1,780,438 shares of common stock of the Issuer in the Pro Rata Distribution and subsequently made a gift of such securities. |
| F3 | Shares of common stock issuable upon settlement of restricted stock units awarded to the Reporting Person. The Reporting Person is deemed to hold the awards for the benefit of funds (the "In-Cap Funds") managed by Inclusive Capital Partners, L.P. ("In-Cap") and In-Cap. |
| F4 | The securities reported herein are held by the In-Cap Funds. In-Cap acts as investment manager to the In-Cap Funds. The Reporting Person indirectly controls In-Cap. |
| F5 | The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. The Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein. |