Elizabeth Sanders - 17 Mar 2022 Form 4 Insider Report for CarLotz, Inc.

Role
Chief Administrative Officer
Signature
/s/ Rebecca C. Polak as attorney-in-fact for Ms. Sanders
Issuer symbol
N/A
Transactions as of
17 Mar 2022
Net transactions value
$0
Form type
4
Filing time
21 Mar 2022, 16:06:28 UTC
Previous filing
02 Feb 2022
Next filing
12 Dec 2022
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 969 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 +145,823 $0.000000 145,823 17 Mar 2022 Class A Common Stock 145,823 $1.68 Direct F6
transaction LOTZ Restricted Stock Units Award $0 +101,191 $0.000000 101,191 17 Mar 2022 Class A Common Stock 101,191 Direct F4, F7
holding LOTZ Stock Option (right to buy) 10,193 17 Mar 2022 Class A Common Stock 10,193 $0.6400 Direct F1
holding LOTZ Stock Option (right to buy) 407,709 17 Mar 2022 Class A Common Stock 407,709 $0.9200 Direct F1
holding LOTZ Stock Option (right to buy) 8,014 17 Mar 2022 Class A Common Stock 8,014 $11.35 Direct F2
holding LOTZ Restricted Stock Units 41,888 17 Mar 2022 Class A Common Stock 41,888 Direct F3, F4
holding LOTZ Restricted Stock Units 4,130 17 Mar 2022 Class A Common Stock 4,130 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options are fully vested and exercisable.
F2 These options are service options that vest based on the passage of time and the Reporting Person's continued service with the Issuer. 2,003 of these options are currently exercisable and the remaining 6,011 become exercisable in three equal annual installments beginning on January 21, 2023.
F3 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.
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-third of these restricted stock units vest on January 21, 2023, one-third of these restricted stock units vest on January 21, 2024 and one-third of these restricted stock units vest on January 21, 2025, assuming continued employment through the applicable vesting date.
F6 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.
F7 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.