John J. Tough - 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 $: -$8,750,331
Form type: 4
Date filed: 3/31/2023, 03:29 PM
Previous filing: Feb 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Ownership	Footnotes
transaction	VLTA	Class A Common Stock	Disposed to Issuer	-$99.9K	-116K	-100%	$0.86	Mar 31, 2023	Direct	F1
transaction	VLTA	Class A Common Stock	Disposed to Issuer	-$1.41M	-1.64M	-100%	$0.86	Mar 31, 2023	By Energize Growth I P	F1, F2
transaction	VLTA	Class A Common Stock	Disposed to Issuer	-$7.24M	-8.41M	-100%	$0.86	Mar 31, 2023	By Energize Ventures Fund LP	F1

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

John J. Tough 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 ("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 Reporting Person is Managing Partner of Energize Ventures LLC, the investment manager of the record holder of the Shares. The Reporting Person may be deemed to be the beneficial owner of such Shares but disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, if any. The Shares were 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 ("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 Reporting Person is Managing Partner of Energize Ventures LLC, the investment manager of the record holder of the Shares. The Reporting Person may be deemed to be the beneficial owner of such Shares but disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, if any. The Shares were cancelled in exchange for the Merger Consideration pursuant to the Merger Agreement upon the Effective Time.

Remarks:

Exhibit 24.1 - Power of Attorney