Michael Vella - May 26, 2021 Form 4 Insider Report for Velodyne Lidar, Inc. (VLDR)

Role
General Counsel
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, 09:15 PM
Next filing
Jun 3, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VLDR Common Stock Options Exercise $0 +29.7K $0.00 29.7K 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 -25.7K -25% $0.00 77.1K May 26, 2021 Common Stock 103K Direct F2, F3
transaction VLDR Restricted Stock Unit Options Exercise $0 -1.56K -100% $0.00* 0 May 26, 2021 Common Stock 1.56K Direct F2, F4
transaction VLDR Restricted Stock Unit Options Exercise $0 -2.48K -6.25% $0.00 37.2K May 26, 2021 Common Stock 39.7K Direct F2, F5
* 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 13, 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.
F5 The Reporting Person was granted RSUs which represent a contingent right to receive one share of Common Stock for each RSU. The RSU shall vest with respect to 6.25% of the RSUs on each company quarterly vesting dates after January 15, 2021, provided the Reporting Person remains in continuous service on each vesting date. Quarterly vesting dates are March 31, June 30, September 30 and December 31.