Thomas W. Stoltz - 17 Mar 2022 Form 4 Insider Report for CarLotz, Inc.

Role: Chief Financial Officer
Signature: /s/ Rebecca C. Polak as attorney-in-fact for Mr. Stoltz
Issuer symbol: N/A
Transactions as of: 17 Mar 2022
Net transactions value: $0
Form type: 4
Filing time: 21 Mar 2022, 16:07:10 UTC
Previous filing: 02 Dec 2021
Next filing: 07 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						11,941	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	+199,434		$0.000000	199,434	17 Mar 2022	Class A Common Stock	199,434	$1.68	Direct	F4
transaction	LOTZ	Restricted Stock Units	Award	$0	+138,393		$0.000000	138,393	17 Mar 2022	Class A Common Stock	138,393		Direct	F2, F5
holding	LOTZ	Stock Option (right to buy)						506,167	17 Mar 2022	Class A Common Stock	506,167	$11.35	Direct	F1
holding	LOTZ	Restricted Stock Units						51,250	17 Mar 2022	Class A Common Stock	51,250		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. 126,541 of these options are currently exercisable and the remaining 379,626 become exercisable in three equal annual installments beginning on November 30, 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 November 30, 2022, one-third of these restricted stock units vest on November 30, 2023 and one-third of these restricted stock units vest on November 30, 2024, assuming continued employment through the applicable vesting date.
F4	The option 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.