Jeffrey C. Kostelni - 02 Mar 2023 Form 4 Insider Report for Bowlero Corp. (LUCK)

Role: Chief Accounting Officer
Signature: /s/ Jason Cohen, Attorney-in-Fact
Issuer symbol: LUCK
Transactions as of: 02 Mar 2023
Net transactions value: -$7,139
Form type: 4
Filing time: 06 Mar 2023, 15:02:32 UTC
Previous filing: 04 Jan 2023
Next filing: 17 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BOWL	Class A Common Stock	Tax liability	$7,139	-449	-2.7%	$15.90	15,940	02 Mar 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents shares withheld to cover tax obligations upon the vesting of restricted shares ("Restricted Shares") of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") received pursuant to the Business Combination Agreement in connection with the acquisition by the Issuer of Bowlero Corp. (the "Acquisition"). 50% of the Restricted Shares vested March 2, 2023 upon the closing share price of the Class A Common Stock equaling or exceeding $15.00 per share for 10 trading days within a consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition. (cont'd in FN2)
F2	(cont'd from FN1) The remaining 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and will otherwise be forfeited on the 5-year anniversary of the closing of the Acquisition.

Content

Represents shares withheld to cover tax obligations upon the vesting of restricted shares ("Restricted Shares") of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") received pursuant to the Business Combination Agreement in connection with the acquisition by the Issuer of Bowlero Corp. (the "Acquisition"). 50% of the Restricted Shares vested March 2, 2023 upon the closing share price of the Class A Common Stock equaling or exceeding $15.00 per share for 10 trading days within a consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition. (cont'd in FN2)

(cont'd from FN1) The remaining 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and will otherwise be forfeited on the 5-year anniversary of the closing of the Acquisition.