Brett Just - Aug 15, 2024 Form 4 Insider Report for ContextLogic Inc. (LOGC)

Signature
/s/ Marianne Lewis, Attorney-in-Fact
Stock symbol
LOGC
Transactions as of
Aug 15, 2024
Transactions value $
-$17,930
Form type
4
Date filed
8/19/2024, 04:16 PM
Previous filing
May 17, 2024
Next filing
Nov 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOGC Class A Common Stock Options Exercise $0 +6.47K +38.71% $0.00 23.2K Aug 15, 2024 Direct F1
transaction LOGC Class A Common Stock Tax liability -$17.9K -3.31K -14.28% $5.42 19.9K Aug 16, 2024 Direct F2, 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 LOGC Restricted Stock Units Options Exercise $0 -6.47K -25% $0.00 19.4K Aug 15, 2024 Class A Common Stock 6.47K $0.00 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person previously received Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Class A Common Stock, $0.0001 par value, for each RSU. This reported transaction represents the settlement of RSUs vested as of August 15, 2024.
F2 The sale reported on this Form 4 represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction 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 ranging from $5.42 to $5.498. The Reporting Person undertakes to provide to the Issuer, any security holder of 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 set forth in this footnote.
F4 Subject to the Reporting Person's continued service, 25% of the RSUs vested on May 15, 2024 and an additional 18.75% of the RSUs will vest on a quarterly basis thereafter beginning on August 15, 2024 (with all quarterly vesting events occuring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date (unless the Reporting Person and the Issuer have agreed in writing to a later settlement date pursuant to procedures the Issuer may prescribe at its discretion).

Remarks:

Exhibit 24 - Power of Attorney