Shengxian Wu - Jul 23, 2021 Form 4 Insider Report for Microvast Holdings, Inc. (MVST)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Shares	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MVST	Employee Stock Option (right to buy)	Award	+160K	160K	Jul 23, 2021	Class A Common Stock	160K	$6.82	Direct	F1, F2
transaction	MVST	Employee Stock Option (right to buy)	Award	+641K	641K	Jul 23, 2021	Class A Common Stock	641K	$6.82	Direct	F1, F3
transaction	MVST	Employee Stock Option (right to buy)	Award	+481K	481K	Jul 23, 2021	Class A Common Stock	481K	$6.82	Direct	F1, F4
transaction	MVST	Capped Restricted Stock Unit	Award	+143K	143K	Jul 23, 2021	Class A Common Stock	143K	$6.82	Direct	F5, F6

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

Id	Content
F1	The shares underlying this option vest one-third on each of the first, second and third anniversaries of the Merger.
F2	Received in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger by and among Tuscan Holdings Corp, TSCN Merger Sub Inc. and Microvast, Inc. ("Microvast"), dated February 1, 2021 (the "Merger"), in exchange for an employee stock option to acquire 1,000 shares of common stock of Microvast for $1,005.85 per share.
F3	Received in the Merger in exchange for an employee stock option to acquire 4,000 shares of common stock of Microvast for $1,005.85 per share.
F4	Received in the Merger in exchange for an employee stock option to acquire 3,000 shares of common stock of Microvast for $1,005.85 per share.
F5	The Capped Restricted Stock Units convert into one share of Common Stock on vesting and are subject to the same conditions and vesting schedule as stock options.
F6	Received in the Merger in exchange for the right to receive 892 shares of common stock of Microvast for $1005.85 per share