Daniel A. Ninivaggi - Mar 14, 2024 Form 4 Insider Report for NU RIDE INC. (NRDE)

Signature
/s/ Melissa A. Leonard, Attorney-in-Fact
Stock symbol
NRDE
Transactions as of
Mar 14, 2024
Transactions value $
$0
Form type
4
Date filed
3/18/2024, 05:10 PM
Previous filing
Jan 4, 2024
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRDE Class A common stock Options Exercise +31.1K +307.88% 41.2K Mar 14, 2024 Direct F1
transaction NRDE Class A common stock Tax liability -9.79K -23.74% 31.4K Mar 14, 2024 Direct F1, F2
transaction NRDE Class A common stock Options Exercise +15K +47.72% 46.4K Mar 14, 2024 Direct F1
transaction NRDE Class A common stock Tax liability -5.09K -10.95% 41.3K Mar 14, 2024 Direct F1, F2

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 NRDE Restricted Stock Units Options Exercise $0 -31.1K -100% $0.00* 0 Mar 14, 2024 Class A Common Stock 31.1K $0.00 Direct F3, F4
transaction NRDE Restricted Stock Units Options Exercise $0 -15K -100% $0.00* 0 Mar 14, 2024 Class A Common Stock 15K $0.00 Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Daniel A. Ninivaggi is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") convert into Class A common stock on a one-for-one basis.
F2 Represents shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligation upon the settlement of previously reported restricted stock units, which vested and settled on the Effective Date (as defined below). This does not represent a sale by the Reporting Person.
F3 On June 27, 2023, Lordstown Motors Corp., a Delaware corporation, together with its subsidiaries (collectively, the "Debtors"), filed voluntary petitions for relief (the "Chapter 11 Cases") under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). On March 5, 2024, the Bankruptcy Court entered an order (the "Confirmation Order") confirming the Third Modified First Amended Joint Chapter 11 Plan of Lordstown Motors Corp. and Its Affiliated Debtors (as may be further modified, amended, or supplemented, the "Plan"). On March 14, 2024 (the "Effective Date"), the Plan was consummated and became effective in accordance with its terms, and the Debtors emerged from the Chapter 11 Cases with the Company changing its name to Nu Ride Inc.
F4 On August 26, 2021, the reporting person was granted 46,666 RSUs, vesting in three equal annual installments beginning on August 26, 2022. Vesting and settlement of awards (i) that was to occur during the pendency of the Chapter 11 Cases was stayed during that period until the Effective Date, and (ii) that would occur after the Effective Date was accelerated in connection with the reporting person's termination of employment pursuant to the reporting person's severance agreement with the Issuer.
F5 On August 15, 2022, the reporting person was granted 15,000 RSUs, vesting in three equal annual installments beginning on August 15, 2023. Vesting and settlement of awards (i) that was to occur during the pendency of the Chapter 11 Cases was stayed during that period until the Effective Date, and (ii) that would occur after the Effective Date was accelerated in connection with the reporting person's termination of employment pursuant to the reporting person's severance agreement with the Issuer.