LITHIA MOTORS INC - 13 Oct 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC.

Role: 10%+ Owner
Signature: Lithia Motors, Inc., By: /s/ Tina Miller
Issuer symbol: N/A
Transactions as of: 13 Oct 2021
Net transactions value: -$9,854,120
Form type: 4
Filing time: 19 Oct 2021, 16:59:20 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SFT	Class A Common Stock	Other	$9,854,120	-985,412	-7.1%	$10.00	12,827,826	13 Oct 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Forfeiture of shares of company common stock held in escrow in connection with the closing of the merger (the "Merger") of Shift Platform, Inc., a Delaware corporation (formerly known as Shift Technologies, Inc.), with a wholly-owned subsidiary of the company, and returned to the company due to the reported closing sale price of the company's common stock not exceeding $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020.
F2	The merger agreement entered into in connection with the Merger placed a value on the company's common stock of $10 a share.

Content

Forfeiture of shares of company common stock held in escrow in connection with the closing of the merger (the "Merger") of Shift Platform, Inc., a Delaware corporation (formerly known as Shift Technologies, Inc.), with a wholly-owned subsidiary of the company, and returned to the company due to the reported closing sale price of the company's common stock not exceeding $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020.

The merger agreement entered into in connection with the Merger placed a value on the company's common stock of $10 a share.