Michael C. Chapman - 07 Dec 2021 Form 4 Insider Report for CarLotz, Inc.

Role
Chief Marketing Officer
Signature
/s/ Rebecca C. Polak as attorney-in-fact for Mr. Chapman
Issuer symbol
N/A
Transactions as of
07 Dec 2021
Net transactions value
-$7,764
Form type
4
Filing time
09 Dec 2021, 16:05:30 UTC
Next filing
21 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOTZ Class A Common Stock Options Exercise $0 +8,541 $0.000000 8,541 07 Dec 2021 Direct F1
transaction LOTZ Class A Common Stock Tax liability $7,764 -2,571 -30% $3.02* 5,970 07 Dec 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 -8,541 -25% $0.000000 25,625 07 Dec 2021 Class A Common Stock 8,541 Direct F4, F5
holding LOTZ Stock Option (right to buy) 253,084 07 Dec 2021 Class A Common Stock 253,084 $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 December 7, 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. 63,271 of these options are currently exercisable and the remaining 189,813 become exercisable in three equal annual installments beginning on December 7, 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 schedule to vest and settle in Class A common stock as followed: one-fourth of these restricted stock units vested on December 7, 2021, one-fourth of these restricted stock units vest on December 7, 2022, one-fourth of these restricted stock units vest on December 7, 2023 and one-fourth of these restricted stock units vest on December 7, 2024, assuming continued employment through the applicable vesting date.