Jeffrey C. Kostelni - Mar 2, 2023 Form 4 Insider Report for Bowlero Corp. (BOWL)

Signature
/s/ Jason Cohen, Attorney-in-Fact
Stock symbol
BOWL
Transactions as of
Mar 2, 2023
Transactions value $
-$7,139
Form type
4
Date filed
3/6/2023, 03:02 PM
Previous filing
Jan 4, 2023
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BOWL Class A Common Stock Tax liability -$7.14K -449 -2.74% $15.90 15.9K Mar 2, 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.