Andrew M. Wilkerson - Nov 1, 2022 Form 4 Insider Report for RXO, Inc. (RXO)

Role
Chief Executive Officer, Director
Signature
/s/ Jeffrey D. Firestone, Attorney-in-Fact
Stock symbol
RXO
Transactions as of
Nov 1, 2022
Transactions value $
$0
Form type
4
Date filed
11/3/2022, 07:22 PM
Previous filing
Oct 17, 2022
Next filing
Dec 12, 2022

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 RXO Restricted Stock Unit Award $0 +372K +848.27% $0.00 416K Nov 1, 2022 Common Stock 372K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive, upon settlement, either (i) one share of Common Stock or (ii) a cash payment equal to the fair market value of one share of Common Stock.
F2 On May 2, 2022, the Reporting Person was granted unvested RSUs by XPO Logistics, Inc. ("XPO"), subject to the satisfaction of certain predetermined performance criteria. On November 1, 2022, as a result of the Distribution (as defined below), the performance criteria applicable to such RSUs was satisfied and the RSUs were converted into RSUs of the Issuer in connection with the Distribution. 12.5% of the RSUs shall vest on May 2, 2023 and May 2, 2024 each, and 25% of the RSUs shall vest on May 2, 2025, May 2, 2026 and May 2, 2027 each, generally subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.
F3 On November 1, 2022, XPO completed a pro rata distribution (the "Distribution") of all of its shares of the Issuer's Common Stock, to the holders of record of XPO common stock, par value $0.001 per share ("XPO Common Stock"), on October 20, 2022. This column includes all RSUs issued by the Issuer to the Reporting Person pursuant to the equitable adjustment of outstanding equity awards relating to XPO Common Stock in accordance with the terms of the Employee Matters Agreement, dated as of October 31, 2022, by and between XPO and the Issuer.