Nicole M. Weinberger - Dec 15, 2021 Form 4 Insider Report for Bowlero Corp. (BOWL)

Role: Chief Customer Off. & CEO, PBA
Signature: /s/ Jason Cohen, Attorney-in-Fact for Nicole M. Weinberger
Stock symbol: BOWL
Transactions as of: Dec 15, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/17/2021, 04:25 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BOWL	Class A Common Stock	Award		+6.08K			6.08K	Dec 15, 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock (the "Restricted Stock") issued to the reporting person pursuant to the merger of old Bowlero Corp. ("Old Bowlero") with and into the Issuer (the "Business Combination"). In connection with the Business Combination, certain Old Bowlero stockholders and holders of participating Old Bowlero options were granted the Restricted Stock in accordance with the terms of the Business Combination Agreement.
F2	One half of the Restricted Stock will vest only if the closing share price of the Issuer's Class A Common Stock, par value $0.0001 (the "Class A Common Stock") equals or exceeds $15.00 per share for any 10 trading days within any consecutive 20-trading day period that occurs between December 15, 2021 and December 15, 2026 (the "Vesting Period") and one half of the Restricted Stock will vest only if the closing share price of Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period within the Vesting Period.

Content

Represents restricted stock (the "Restricted Stock") issued to the reporting person pursuant to the merger of old Bowlero Corp. ("Old Bowlero") with and into the Issuer (the "Business Combination"). In connection with the Business Combination, certain Old Bowlero stockholders and holders of participating Old Bowlero options were granted the Restricted Stock in accordance with the terms of the Business Combination Agreement.

One half of the Restricted Stock will vest only if the closing share price of the Issuer's Class A Common Stock, par value $0.0001 (the "Class A Common Stock") equals or exceeds $15.00 per share for any 10 trading days within any consecutive 20-trading day period that occurs between December 15, 2021 and December 15, 2026 (the "Vesting Period") and one half of the Restricted Stock will vest only if the closing share price of Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period within the Vesting Period.