Stephen Eric Johnston - 26 Mar 2024 Form 4 Insider Report for ELECTRAMECCANICA VEHICLES CORP.

Role
Chief Financial Officer
Signature
/s/ Michael Bridge, as attorney-in-fact
Issuer symbol
N/A
Transactions as of
26 Mar 2024
Net transactions value
$0
Form type
4
Filing time
26 Mar 2024, 14:35:07 UTC
Previous filing
05 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOLO Common Stock Options Exercise +300,000 300,000 26 Mar 2024 Direct F2
transaction SOLO Common Stock Disposed to Issuer -300,000 -100% 0 26 Mar 2024 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 SOLO Restricted Share Units Options Exercise $0 -300,000 -100% $0.000000* 0 26 Mar 2024 Common Stock 300,000 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Stephen Eric Johnston is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On March 26, 2024, Xos, Inc. ("Xos") acquired all of the issued and outstanding common shares (the "ElectraMeccanica Shares") of ElectraMeccanica Vehicles Corp. ("ElectraMeccanica") pursuant to a plan of arrangement (the "Plan of Arrangement") under the Business Corporations Act (British Columbia) (the "Arrangement"). Under the terms of the arrangement agreement, dated January 11, 2024, by and between ElectraMeccanica and Xos (as amended, the "Arrangement Agreement"), and the Plan of Arrangement, at the effective time of the Arrangement (the "Effective Time"), each ElectraMeccanica Share outstanding immediately prior to the Effective Time was transferred to Xos in exchange for 0.0143739 shares of Xos common stock.
F2 Each restricted share unit ("RSU") represented a contingent right to receive one ElectraMeccanica Share upon vesting. Pursuant to the Arrangement Agreement, each RSU that was outstanding immediately prior to the Effective Time vested and was settled by ElectraMeccanica in exchange for one ElectraMeccanica Share.
F3 On December 7, 2023, the reporting person was granted a total of 300,000 RSUs, which were to vest in three equal annual installments from the grant date.