Jeffrey Yurcisin - Aug 16, 2023 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)

Role
President & CEO, Director
Signature
/s/ Barbara Wallace, Attorney-in-Fact for Jeffrey Yurcisin
Stock symbol
GROV
Transactions as of
Aug 16, 2023
Transactions value $
$0
Form type
4
Date filed
8/18/2023, 04:34 PM
Next filing
Dec 14, 2023

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 GROV Restricted Stock Units Award +340K 340K Aug 16, 2023 Class A Common Stock 340K Direct F1, F2, F3
transaction GROV Restricted Stock Units Award +510K 510K Aug 16, 2023 Class A Common Stock 510K Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A Common Stock.
F2 These RSUs vest 25% on August 15, 2024, and then in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.
F3 These RSUs have no expiration date.
F4 These RSUs vest 25% on August 15, 2024, and then in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date, and subject to the achievement of specified stock price metrics as follows: (1) with respect to 25%, 50% and 75% cumulative vested percentages, a 90-day volume weighted average trading price ("VWATP") of $5.00, $8.00 and $12.50, respectively, per share of Class A Common Stock must be achieved on or before the four-year anniversary of August 16, 2023, and (2) with respect to 100% cumulative vested percentage, a 90-day VWATP of $21.10 per share of Class A Common Stock must be achieved on or before the five-year anniversary of August 16, 2023.