Katherine J. Savitt - Mar 31, 2023 Form 4 Insider Report for Volta Inc. (VLTA)

Role
Director
Signature
/s/ Brandt Hastings, as attorney-in-fact
Stock symbol
VLTA
Transactions as of
Mar 31, 2023
Transactions value $
-$256,413
Form type
4
Date filed
3/31/2023, 03:16 PM
Previous filing
Aug 2, 2022
Next filing
Oct 31, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VLTA Class A Common Stock Disposed to Issuer -$99.9K -116K -100% $0.86 0 Mar 31, 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 -$157K -182K -100% $0.86 0 Mar 31, 2023 Class A Common Stock 182K $0.57 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.

Remarks:

Exhibit 24.1 - Power of Attorney