Alex Rodrigues - Nov 10, 2021 Form 3 Insider Report for Embark Technology, Inc. (EMBK)

Role
CEO & Co-Founder, Director, 10%+ Owner
Signature
/s/ Siddhartha Venkatesan, Attorney-in-fact for Alex Rodrigues
Stock symbol
EMBK
Transactions as of
Nov 10, 2021
Transactions value $
$0
Form type
3
Date filed
11/18/2021, 04:43 PM
Next filing
Aug 4, 2023

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 EMBK Class B Common Stock Nov 10, 2021 Class A Common Stock 50M By Alex Rodrigues Living Trust F1
holding EMBK Restricted Stock Units Nov 10, 2021 Class A Common Stock 29.1M Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of the Class B Common Stock may be converted into shares of Class A common stock, on a one-to-one basis, at the option of the holder at any time and have no expiration date.
F2 Restricted Stock Units ("RSUs") vest based on the Issuer's stock price performance over a performance period beginning on the first anniversary of the business combination of NGA and Embark Trucks, and ending on the tenth anniversary of the grant date, subject to satisfying certain service-based conditions. The award will vest, if at all, in six equal tranches based on the Issuer's stock price exceeding certain thresholds. Any portion of the award that has not been earned by the tenth anniversary of the award grant date will be forfeited.
F3 Each RSU represents a contingent right to receive a Class A Common Stock of the Issuer.

Remarks:

Exhibit 24 - Power of Attorney.