Christopher Albert Thomas - May 26, 2021 Form 4 Insider Report for Velodyne Lidar, Inc. (VLDR)

Role: Director
Signature: /s/ Tracey Mastropoalo, Attorney-in-Fact
Stock symbol: VLDR
Transactions as of: May 26, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/28/2021, 09:14 PM
Next filing: Jun 10, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VLDR	Common Stock	Options Exercise	$0	+24.1K		$0.00	24.1K	May 26, 2021	Direct	F1

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	VLDR	Restricted Stock Unit	Options Exercise	$0	-22.6K	-30.91%	$0.00	50.5K	May 26, 2021	Common Stock	73.4K		Direct	F2, F3
transaction	VLDR	Restricted Stock Unit	Options Exercise	$0	-1.11K	-100%	$0.00^*	0	May 26, 2021	Common Stock	1.11K		Direct	F2, F4

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

Explanation of Responses:

Id	Content
F1	The Reporting Person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share of Common Stock for each RSU. The shares were issued pursuant to vested RSUs released on May 26, 2021.
F2	The Reporting Person received RSUs in connection with the merger described in that certain Agreement and Plan of Merger, dated as of July 2, 2020 (the "Merger"), and amended on August 20, 2020, by and among Graf Industrial Corp., a Delaware corporation now known as Velodyne Lidar, Inc. ("New Velodyne"), VL Merger Sub Inc., a Delaware corporation, and Velodyne Lidar, Inc., a Delaware corporation now known as Velodyne Lidar USA, Inc.
F3	The RSUs were received in connection with the Merger. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the right to receive one share of common stock. The liquidity-event requirement was deemed satisfied by the Board of Directors of New Velodyne in October 2020 and the service-based requirement will be or, as applicable, was satisfied with respect to 25% of the RSUs when the Reporting Person remains or, as applicable, remained in continuous service through the one-year anniversary of May 29, 2020 and with respect to 6.25% of the RSUs when the Reporting Person completes or, as applicable, completed each three (3) months of continuous service thereafter.
F4	The Reporting Person was granted RSUs which represent a contingent right to receive one share of Common Stock for each RSU. The RSUs are fully vested.