John Michael McDonald - Jan 1, 2023 Form 4 Insider Report for Poshmark, Inc. (POSH)

Role
Chief Operating Officer
Signature
/s/ Evan Ferl, Attorney-in-Fact
Stock symbol
POSH
Transactions as of
Jan 1, 2023
Transactions value $
-$828,792
Form type
4
Date filed
1/4/2023, 07:29 PM
Previous filing
Dec 5, 2022
Next filing
Jan 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction POSH Class A Common Stock Options Exercise $0 +43.5K +46.1% $0.00 138K Jan 1, 2023 Direct
transaction POSH Class A Common Stock Conversion of derivative security $0 +36.7K +26.61% $0.00 174K Jan 3, 2023 Direct
transaction POSH Class A Common Stock Tax liability -$829K -46.4K -26.57% $17.88 128K Jan 3, 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 POSH Restricted Stock Units Options Exercise $0 -36.7K -66.67% $0.00 18.3K Jan 1, 2023 Class B Common Stock 36.7K Direct F2, F3
transaction POSH Restricted Stock Units Options Exercise $0 -43.5K -66.67% $0.00 21.7K Jan 1, 2023 Class A Common Stock 43.5K Direct F4, F5
transaction POSH Class B Common Stock Options Exercise $0 +36.7K +74.56% $0.00 85.8K Jan 1, 2023 Class A Common Stock 36.7K Direct F6
transaction POSH Class B Common Stock Conversion of derivative security $0 -36.7K -42.71% $0.00 49.2K Jan 3, 2023 Class A Common Stock 36.7K Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares that have been withheld by the Issuer to satisfy its tax withholding and remittance obligations in connection with the net settlement of restricted stock units (RSUs) and does not represent a sale by the Reporting Person.
F2 Each RSU represents the contingent 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). On January 1, 2023, the RSUs originally scheduled to vest over the course of 2023 were accelerated to vest on such date.
F4 Each RSU represents a contingent right to receive one share of Class A Common Stock.
F5 1/8th of the RSUs will vest on September 1, 2022 and each three months thereafter, subject to the Reporting Person's continued service through the applicable vesting date. On January 1, 2023, the RSUs originally scheduled to vest over the course of 2023 were accelerated to vest on such date.
F6 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.