Crystal Landsem - Mar 6, 2023 Form 4 Insider Report for Lulu's Fashion Lounge Holdings, Inc. (LVLU)

Role
Chief Executive Officer
Signature
/s/ Alexa Pisczak, Attorney-in-Fact for Crystal Landsem
Stock symbol
LVLU
Transactions as of
Mar 6, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 03:06 PM
Previous filing
Oct 5, 2022
Next filing
Apr 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LVLU Common Stock Award $0 +1.81M +257.3% $0.00 2.52M Mar 6, 2023 Direct F1

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 LVLU Performance Stock Units Award $0 +1.81M $0.00 1.81M Mar 6, 2023 Common Stock 1.81M Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs"), each of which represent a contingent right to receive one share of common stock, and which will vest as follows: (a) 122,662 RSUs will vest on June 30, 2023, (b) 94,455 RSUs will vest on September 30, 2023 and on December 31, 2023, and (c) the remaining 1,500,000 RSUs will vest in twelve, equal, quarterly installments of 125,000 beginning on March 31, 2024.
F2 Represents performance stock units ("PSUs"), each of which represent a contingent right to receive one share of common stock, and which will vest as follows: (a) 603,857 PSUs will vest when both of the following have occurred (i) the Volume-Weighted Average Price ("VWAP") of the Company's common stock over trailing ten (10) trading days equals or exceeds $7.50, and (ii) the Reporting Person remains employed under the terms of their Employment Agreement (the "Employment Agreement") on March 5, 2024; (continued below)
F3 (b) 603,857 PSUs will vest when both of the following have occurred (i) the VWAP of the Company's common stock over the trailing ten (10) trading days equals or exceeds $10.00, and (ii) the Reporting Person remains employed under this terms of the Employment Agreement on March 5, 2025; and (c) 603,857 PSUs will vest when both of the following have occurred (i) the VWAP of the Company's common stock over trailing ten (10) trading days equals or exceeds $12.50, and (ii) the Reporting Person remains employed under the terms of the Employment Agreement on March 5, 2026.