Katherine J. Savitt - 31 Mar 2023 Form 4 Insider Report for Volta Inc.

Role: Director
Signature: /s/ Brandt Hastings, as attorney-in-fact
Issuer symbol: N/A
Transactions as of: 31 Mar 2023
Net transactions value: -$256,413
Form type: 4
Filing time: 31 Mar 2023, 15:16:44 UTC
Previous filing: 02 Aug 2022
Next filing: 31 Oct 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VLTA	Class A Common Stock	Disposed to Issuer	$99,872	-116,130	-100%	$0.8600	0	31 Mar 2023	Direct	F1

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	VLTA	Stock Option (right to buy)	Disposed to Issuer	$156,542	-182,025	-100%	$0.8600	0	31 Mar 2023	Class A Common Stock	182,025	$0.5700	Direct	F2

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

Katherine J. Savitt is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Represents shares of Class A Common Stock ("Shares"), which were cancelled in exchange for the cash merger consideration equal to $0.86 per Share (the "Merger Consideration") pursuant to that certain Agreement and Plan of Merger between issuer, Shell USA, Inc., and SEV Subsidiary, Inc., dated January 17, 2023 (the "Merger Agreement") and includes 108,155 Shares underlying restricted stock unit awards. The merger became effective on March 31, 2023 (the "Effective Time").
F2	The option award, which originally provided that 25% of the total Shares subject to the option vested and became exercisable on February 6, 2020, and 1/36 of the Shares underlying the option award became exercisable monthly thereafter, was cancelled in exchange for the Merger Consideration pursuant to the Merger Agreement upon the Effective Time.

Content

Represents shares of Class A Common Stock ("Shares"), which were cancelled in exchange for the cash merger consideration equal to $0.86 per Share (the "Merger Consideration") pursuant to that certain Agreement and Plan of Merger between issuer, Shell USA, Inc., and SEV Subsidiary, Inc., dated January 17, 2023 (the "Merger Agreement") and includes 108,155 Shares underlying restricted stock unit awards. The merger became effective on March 31, 2023 (the "Effective Time").

The option award, which originally provided that 25% of the total Shares subject to the option vested and became exercisable on February 6, 2020, and 1/36 of the Shares underlying the option award became exercisable monthly thereafter, was cancelled in exchange for the Merger Consideration pursuant to the Merger Agreement upon the Effective Time.

Remarks:

Exhibit 24.1 - Power of Attorney