Dietmar Ostermann - Mar 26, 2024 Form 4 Insider Report for ELECTRAMECCANICA VEHICLES CORP. (SOLO)

Role
Director
Signature
/s/ Michael Bridge, as attorney-in-fact
Stock symbol
SOLO
Transactions as of
Mar 26, 2024
Transactions value $
$0
Form type
4
Date filed
3/26/2024, 02:35 PM
Previous filing
Mar 18, 2024
Next filing
Jul 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOLO Common Stock Options Exercise +233K 233K Mar 26, 2024 Direct F2
transaction SOLO Common Stock Disposed to Issuer -233K -100% 0 Mar 26, 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 Deferred Share Units Options Exercise $0 -233K -100% $0.00* 0 Mar 26, 2024 Common Stock 233K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Dietmar Ostermann 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 deferred share unit ("DSU") represented a contingent right to receive one ElectraMeccanica Share (or, at the election of the reporting person and subject to the approval of the Plan Administrator (as defined in the issuer's 2020 Stock Incentive Plan (the "Plan")), the cash value thereof) on the settlement date. Pursuant to the Arrangement Agreement, each DSU that was outstanding immediately prior to the Effective Time vested and was settled by ElectraMeccanica in exchange for one ElectraMeccanica Share.
F3 The DSUs vested in full upon grant.