Thomas W. Stoltz - Nov 30, 2021 Form 4 Insider Report for CarLotz, Inc. (LOTZ)

Role
Chief Financial Officer
Signature
/s/ Rebecca C. Polak as attorney-infact for Mr. Stoltz Rebecca C. Polak
Stock symbol
LOTZ
Transactions as of
Nov 30, 2021
Transactions value $
-$15,220
Form type
4
Date filed
12/2/2021, 04:03 PM
Next filing
Mar 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOTZ Class A Common Stock Options Exercise $0 +17.1K $0.00 17.1K Nov 30, 2021 Direct F1
transaction LOTZ Class A Common Stock Tax liability -$15.2K -5.14K -30.1% $2.96 11.9K Nov 30, 2021 Direct F2

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 LOTZ Restricted Stock Units Options Exercise $0 -17.1K -25% $0.00 51.3K Nov 30, 2021 Class A Common Stock 17.1K Direct F4, F5
holding LOTZ Stock Option (right to buy) 506K Nov 30, 2021 Class A Common Stock 506K $11.35 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. The restricted stock units vested in Class A common stock on November 30, 2021.
F2 Shares withheld by the Company to satisfy tax withholding requirements.
F3 These options are service options that vest based on the passage of time and the reporting person's continued service with the Company. 126,541 of these options are currently exercisable and the remaining 379,626 become exercisable in three equal annual installments beginning on November 30, 2022.
F4 Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
F5 These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-fourth of these restricted stock units vested on November 30, 2021, one-fourth of these restricted stock units vest on November 30, 2022, one-fourth of these restricted stock units vest on November 30, 2023 and one-fourth of these restricted stock units vest on November 30, 2024, assuming continued employment through the applicable vesting date.