Michael C. Chapman - Mar 17, 2022 Form 4 Insider Report for CarLotz, Inc. (LOTZ)

Role
Chief Marketing Officer
Signature
/s/ Rebecca C. Polak as attorney-in-fact for Mr. Chapman
Stock symbol
LOTZ
Transactions as of
Mar 17, 2022
Transactions value $
$0
Form type
4
Date filed
3/21/2022, 04:04 PM
Previous filing
Dec 9, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOTZ Class A Common Stock 5.97K Mar 17, 2022 Direct

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 Stock Option (right to buy) Award $0 +189K $0.00 189K Mar 17, 2022 Class A Common Stock 189K $1.68 Direct F4
transaction LOTZ Restricted Stock Units Award $0 +131K $0.00 131K Mar 17, 2022 Class A Common Stock 131K Direct F2, F5
holding LOTZ Stock Option (right to buy) 253K Mar 17, 2022 Class A Common Stock 253K $11.35 Direct F1
holding LOTZ Restricted Stock Units 25.6K Mar 17, 2022 Class A Common Stock 25.6K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options are service options that vest based on the passage of time and the Reporting Person's continued service with the Issuer. 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.
F2 Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
F3 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-third of these restricted stock units vest on December 7, 2022, one-third of these restricted stock units vest on December 7, 2023 and one-third of these restricted stock units vest on December 7, 2024, assuming continued employment through the applicable vesting date.
F4 The options will vest and become exercisable in three equal annual installments commencing on March 17, 2023, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.
F5 The restricted stock units will vest in three equal annual installments commencing on March 17, 2023, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.