Manish Chandra - Oct 1, 2021 Form 4 Insider Report for Poshmark, Inc. (POSH)

Role
President and CEO
Signature
/s/ Evan Ferl, Attorney-in-Fact
Stock symbol
POSH
Transactions as of
Oct 1, 2021
Transactions value $
-$72,011
Form type
4
Date filed
10/5/2021, 08:55 PM
Previous filing
Jul 14, 2021
Next filing
Jan 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction POSH Class A Common Stock Conversion of derivative security $0 +3.05K +41.83% $0.00 10.4K Oct 1, 2021 Direct
transaction POSH Class A Common Stock Sale -$72K -3.05K -29.49% $23.59 7.3K Oct 4, 2021 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 POSH Restricted Stock Units Options Exercise -6.11K -9.09% 61.1K Oct 1, 2021 Class B Common Stock 6.11K Direct F2, F3, F4
transaction POSH Class B Common Stock Options Exercise +6.11K +0.11% 5.42M Oct 1, 2021 Class A Common Stock 6.11K Direct F4
transaction POSH Class B Common Stock Conversion of derivative security $0 -3.05K -0.06% $0.00 5.42M Oct 1, 2021 Class A Common Stock 3.05K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
F2 Each Restricted Stock Unit ("RSU") represents the right to receive one share of Class B Common Stock.
F3 The RSUs are subject to time- and performance-based vesting. The units shall satisfy the time-based vesting as to 25% of the units on April 1, 2021 and as to the remainder in 12 quarterly installments thereafter, subject to the Reporting Person's continued service to the Issuer through each such vesting date. The performance-based vesting condition was satisfied upon the Issuer's initial public offering (as defined in the Issuer's 2011 Stock Option and Grant Plan).
F4 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.