Micah Heavener - May 28, 2021 Form 4 Insider Report for SoFi Technologies, Inc. (SOFI)

Role
Head of Operations
Signature
/s/ Deanna Smith, Attorney-in Fact
Stock symbol
SOFI
Transactions as of
May 28, 2021
Transactions value $
$0
Form type
4
Date filed
6/2/2021, 09:21 PM
Next filing
Aug 4, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOFI Common Stock Award +100K 100K May 28, 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 SOFI Restricted Stock Unit Award $0 +78.4K $0.00 78.4K May 28, 2021 Common Stock 78.4K Direct F2, F3
transaction SOFI Restricted Stock Unit Award $0 +4.36K $0.00 4.36K May 28, 2021 Common Stock 4.36K Direct F4, F5
transaction SOFI Restricted Stock Unit Award $0 +61.4K $0.00 61.4K May 28, 2021 Common Stock 61.4K Direct F6, F7
transaction SOFI Restricted Stock Unit Award $0 +228K $0.00 228K May 28, 2021 Common Stock 228K Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with the Issuer's business combination (the "Business Combination") with Social Finance, Inc. ("Legacy SoFi") in accordance with the terms of the Agreement and Plan of Merger, dated as of January 7, 2021, as amended on March 16, 2021, by and among the Issuer (f/k/a Social Capital Hedosophia Holdings Corp. V), Plutus Merger Sub Inc. ("Merger Sub") and Legacy SoFi (the "Merger Agreement"), pursuant to which Merger Sub merged with and into Legacy SoFi, with Legacy SoFi surviving the merger as a wholly-owned subsidiary of the Issuer.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
F3 In connection with the Business Combination, the unvested portion of this Legacy SoFi outstanding RSU award was converted into an RSU award denominated in shares of the Issuer's common stock. The unvested portion of the outstanding RSU award will continue to vest as to 13,071 RSUs per quarter in equal quarterly installments, subject to the reporting person's continued service with the Issuer through the applicable vesting date, with each installment representing 1/16th of the total number of RSUs originally granted pursuant to this award, as such total number was converted in the Business Combination.
F4 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
F5 In connection with the Business Combination, the unvested portion of this Legacy SoFi outstanding RSU award was converted into an RSU award denominated in shares of the Issuer's common stock. The unvested portion of the outstanding RSU award will continue to vest as to 2,179 RSUs per quarter in equal quarterly installments, subject to the reporting person's continued service with the Issuer through the applicable vesting date, with each installment representing 1/8th of the total number of RSUs originally granted pursuant to this award, as such total number was converted in the Business Combination.
F6 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
F7 In connection with the Business Combination, the unvested portion of this Legacy SoFi outstanding RSU award was converted into an RSU award denominated in shares of the Issuer's common stock. The unvested portion of the outstanding RSU award will continue to vest as to 5,119 RSUs per quarter in equal quarterly installments, subject to the reporting person's continued service with the Issuer through the applicable vesting date, with each installment representing 1/16th of the total number of RSUs originally granted pursuant to this award, as such total number was converted in the Business Combination.
F8 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
F9 In connection with the Business Combination, the unvested portion of this Legacy SoFi outstanding RSU award was converted into an RSU award denominated in shares of the Issuer's common stock. The unvested portion of the outstanding RSU award will continue to vest as to 15,171 RSUs per quarter in equal quarterly installments, subject to the reporting person's continued service with the Issuer through the applicable vesting date, with each installment representing 1/16th of the total number of RSUs originally granted pursuant to this award, as such total number was converted in the Business Combination.