Sandy Godsey - Oct 9, 2023 Form 3 Insider Report for Boxabl Inc. (BOX)

Role
General Counsel
Signature
/s/ Sandy Godsey
Stock symbol
BOX
Transactions as of
Oct 9, 2023
Transactions value $
$0
Form type
3
Date filed
10/10/2023, 04:47 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 $714K 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 three years from the date of grant on August 21, 2026. The Restricted Stock Units ("RSUs") may be monetized once vested and upon the earlier of (i) the Company making a tender for and successfully acquiring the RSUs, (ii) the closing date of a transaction or series of transactions resulting in a Change of Control as defined in Section 409A of the IRC, or (iii) after expiration of the "lock up" period following an initial underwritten sale of the Company's equity securities on an established securities market (collectively, a "Qualifying Transaction").
F2 If employment is terminated for any reason prior to a Qualifying Transaction (defined in note 1, above), the RSUs will immediately be canceled and lapsed, and there will be no entitlement to any payment. If employment is terminated for cause following a Qualifying Transaction, but prior to the date on which payment is made, then employee will receive no payment.
F3 Once the RSUs become vested and a Qualifying Transaction occurs (defined in note 1, above), payment will be made in a single sum within fifteen (15) business days after the closing of the Qualifying Transaction. No payment will be made under the award agreement prior to the closing of a Qualifying Transaction.