Michael C. Chapman - 17 Mar 2022 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: 17 Mar 2022
Net transactions value: $0
Form type: 4
Filing time: 21 Mar 2022, 16:04:30 UTC
Previous filing: 09 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOTZ	Class A Common Stock						5,970	17 Mar 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	+188,712		$0.000000	188,712	17 Mar 2022	Class A Common Stock	188,712	$1.68	Direct	F4
transaction	LOTZ	Restricted Stock Units	Award	$0	+130,953		$0.000000	130,953	17 Mar 2022	Class A Common Stock	130,953		Direct	F2, F5
holding	LOTZ	Stock Option (right to buy)						253,084	17 Mar 2022	Class A Common Stock	253,084	$11.35	Direct	F1
holding	LOTZ	Restricted Stock Units						25,625	17 Mar 2022	Class A Common Stock	25,625		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.