Zvi Yemini - Oct 9, 2023 Form 3 Insider Report for Boxabl Inc. (box)

Role
Director
Signature
/s/ Sandy Godsey, Attorney-in-fact
Stock symbol
box
Transactions as of
Oct 9, 2023
Transactions value $
$0
Form type
3
Date filed
10/10/2023, 04:16 PM

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
holding box Restricted Stock Units Oct 9, 2023 Common Stock, par value $0.00001 57.1K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vesting occurs on the earlier of the date of consummation of a Change of Control (as defined in Section 409A of the IRC) or after expiration of the "lock up" period following an initial public offering of the Company's equity securities on an established securities market (collectively, a "Qualifying Transaction").
F2 The portion of any unvested RSUs will be forfeited upon termination of service as a Director to the Company, and such portion shall be canceled by the Company. Upon termination of service as a Director of the Company by reason of death or disability, the portion of RSUs awarded that is not vested and unrestricted as of that date shall immediately vest and become unrestricted.
F3 Upon the date the RSUs become vested and unrestricted, the Director will receive one (1) underlying share of Common Stock for each RSU. However, the underlying Common Stock shall not be issued but deferred until the "Distribution Date", which is defined as the earlier of five (5) business days following the date on which the Grantee cease to be a Director of the Company or the date of a consummation of a "Qualifying Transaction" (defined in note 1, above).