Crystal Landsem - 06 Mar 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
Issuer symbol: LVLU
Transactions as of: 06 Mar 2023
Net transactions value: $0
Form type: 4
Filing time: 06 Mar 2023, 15:06:01 UTC
Previous filing: 05 Oct 2022
Next filing: 04 Apr 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LVLU	Common Stock	Award	$0	+1,811,572	+257%	$0.000000	2,515,634	06 Mar 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	+1,811,571		$0.000000	1,811,571	06 Mar 2023	Common Stock	1,811,571		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.