Peter J. Benevides - Jun 5, 2023 Form 4 Insider Report for Olo Inc. (OLO)

Role
Chief Financial Officer
Signature
/s/ Jennifer C. Wong, Attorney-in-Fact
Stock symbol
OLO
Transactions as of
Jun 5, 2023
Transactions value $
-$57,463
Form type
4
Date filed
6/8/2023, 05:52 PM
Previous filing
Mar 8, 2023
Next filing
Sep 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OLO Class A Common Stock Conversion of derivative security +29K +8.21% 382K Jun 5, 2023 Direct F1
transaction OLO Class A Common Stock Sale -$57.5K -7.89K -2.07% $7.28 374K Jun 6, 2023 Direct F2, F3

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 OLO Class B Common Stock Conversion of derivative security $0 -29K -100% $0.00* 0 Jun 5, 2023 Class A Common Stock 29K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and will automatically convert into one share of Class A Common Stock, upon the following: (1) the sale or transfer of such share of Class B Common Stock; (2) the death of the Reporting Person; and (3) on the final conversion date, defined as the earlier of (a) the trading day immediately following the seventh anniversary of the Initial Public Offering, (b) the last trading day of the fiscal quarter immediately following the date upon which the then outstanding shares of Class B common stock first represent less than 10% of the aggregate number of the then outstanding shares of Class A common stock and Class B common stock, or (c) the date specified by a vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a single class.
F2 Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units, and does not represent a discretionary trade by the Reporting Person.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $7.17 to $7.42, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the Issuer, any security holder of the Issuer, or the SEC staff upon request.