Key facts
- This page summarizes Michael W. Bor's Form 4 filing for CarLotz, Inc..
- 3 reported transactions and 9 derivative rows are listed below.
- Accepted by SEC: 02 Feb 2022, 16:52.
Michael W. Bor - 31 Jan 2022 Form 4 Insider Report for CarLotz, Inc.
- Reporting relationship
- CEO and Chairman, Director, 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 31 Jan 2022
- Net transaction value
- -$20,124
- SEC form
- 4
- Accepted by SEC
- 02 Feb 2022, 16:52:57 UTC
- Next SEC filing
- 12 May 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ Rebecca C. Polak as attorney-in-fact for Mr. Bor
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Michael W. Bor filed Form 4 for CarLotz, Inc. on 02 Feb 2022.
Change
- No earlier filing in this sequence is available for direct comparison.
- Current net transaction value: -$20,124.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
LOTZ
transaction
Class A Common Stock
Options Exercise
- Transaction value
- $0
- Shares
- +22,027
- Change %
- +0.25%
- Price
- $0.000000
- Shares after
- 8,924,072
- Date
- 31 Jan 2022
- Ownership
- Direct
- Footnotes
- F1, F2
LOTZ
transaction
Class A Common Stock
Sale
- Transaction value
- $20,124
- Shares
- -9,769
- Change %
- -44%
- Price
- $2.06*
- Shares after
- 12,258
- Date
- 01 Feb 2022
- Ownership
- Direct
- Footnotes
- F3
LOTZ
holding
Class A Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 952,593
- Date
- 31 Jan 2022
- Ownership
- Held by Bor Family Trust
LOTZ
holding
Class A Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 352,593
- Date
- 31 Jan 2022
- Ownership
- Held by Bor Grantor Retained Annuity Trust
- Footnotes
- F4
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
LOTZ
transaction
Derivative
Restricted Stock Units
Options Exercise
- Transaction value
- $0
- Shares
- -22,027
- Change %
- -25%
- Price
- $0.000000
- Shares after
- 66,079
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 22,027
- Exercise price
- Footnotes
- F9, F10
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 897,341
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 897,341
- Exercise price
- Footnotes
- F5
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 254,818
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 254,818
- Exercise price
- $0.6400
- Footnotes
- F6
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 613,480
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 613,480
- Exercise price
- $0.9200
- Footnotes
- F6
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 509,637
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 509,637
- Exercise price
- $0.9200
- Footnotes
- F6
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 128,218
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 128,218
- Exercise price
- $11.35
- Footnotes
- F7
LOTZ
holding
Derivative
Restricted Stock Units
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 138,800
- Date
- 31 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 138,800
- Exercise price
- Footnotes
- F8, F9
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 105,064
- Date
- 31 Jan 2022
- Ownership
- Held by Bor Family Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 105,064
- Exercise price
- Footnotes
- F5
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 105,064
- Date
- 31 Jan 2022
- Ownership
- Held by Bor Grantor Retained Annuity Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 105,064
- Exercise price
- Footnotes
- F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 10 footnotes
Footnote 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 January 31, 2022.
Footnote F2
Includes 600,000 shares previously held through the Bor Grantor Retained Annuity Trust which were distributed to the reporting person and are now owned directly.
Footnote F3
The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock units.
Footnote F4
Excludes 600,000 shares previously held through the Bor Grantor Retained Annuity Trust which were distributed to the reporting person and are now owned directly.
Footnote F5
These earnout rights will vest if, prior to January 21, 2026, the closing share price of the Class A common stock exceeds the following thresholds. One-half will be issued if the closing share price of the Class A common stock exceeds $12.50 for any 20 trading days within any 30 trading day period and one-half will be issued if the closing share price of the Class A common stock exceeds $15.00 for any 20 trading days within any 30 trading day period.
Footnote F6
These options are fully vested and exercisable.
Footnote F7
These options are service options that vest based on the passage of time and the reporting person's continued service with the Company. 32,054 of these options are currently exercisable and the remaining 96,164 become exercisable in three equal annual installments beginning on January 21, 2023.
Footnote F8
These restricted stock units will vest if, prior to January 21, 2026, the closing share price of the Class A common stock exceeds the following thresholds. One-half will vest if the closing share price of the Class A common stock exceeds $12.50 for any 20 trading days within any 30 trading day period and one-half will vest if the closing share price of the Class A common stock exceeds $15.00 for any 20 trading days within any 30 trading day period.
Footnote F9
Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
Footnote F10
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 January 31, 2022, one-fourth of these restricted stock units vest on January 21, 2023, one-fourth of these restricted stock units vest on January 21, 2024 and one-fourth of these restricted stock units vest on January 21, 2025, assuming continued employment through the applicable vesting date.