Sergio Cervantes - 15 May 2023 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)

Role: Chief Financial Officer
Signature: /s/Barbara Wallace, Attorney-in-Fact for Sergio Cervantes
Issuer symbol: GROV
Transactions as of: 15 May 2023
Net transactions value: -$85,722
Form type: 4
Filing time: 17 May 2023, 18:07:39 UTC
Previous filing: 14 Apr 2023
Next filing: 17 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GROV	Class A Common Stock	Options Exercise		+176,413	+92%		368,824	15 May 2023	Direct	F1
transaction	GROV	Class A Common Stock	Tax liability	$42,733	-86,767	-24%	$0.4925	282,057	15 May 2023	Direct	F2
transaction	GROV	Class A Common Stock	Options Exercise		+156,049	+55%		438,106	15 May 2023	Direct	F1
transaction	GROV	Class A Common Stock	Tax liability	$38,105	-77,370	-18%	$0.4925	360,736	15 May 2023	Direct	F2
transaction	GROV	Class A Common Stock	Options Exercise		+20,000	+5.5%		380,736	15 May 2023	Direct	F1
transaction	GROV	Class A Common Stock	Tax liability	$4,884	-9,917	-2.6%	$0.4925	370,819	15 May 2023	Direct	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	GROV	Restricted Stock Units	Options Exercise		-176,413	-25%		529,212	15 May 2023	Class A Common Stock	176,413		Direct	F1, F3, F4
transaction	GROV	Restricted Stock Units	Options Exercise		-156,049	-10%		1,404,438	15 May 2023	Class A Common Stock	156,049		Direct	F1, F4, F5
transaction	GROV	Restricted Stock Units	Options Exercise		-20,000	-10%		180,000	15 May 2023	Class A Common Stock	20,000		Direct	F1, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of class A Common Stock
F2	These shares were retained by the Company in order to meet the tax withholding obligations of the award-holder in connection with the vesting of an installment of the restricted stock award. The amount retained by the Company was not in excess of the amount of the tax liability.
F3	These RSUs vest 25% on May 15, 2023, and then in quarterly installments for the next 36 months, with accelerated vesting following a change in control if the Reporting Person's services are terminated by the Issuer without cause or he resigns for good reason.
F4	The RSUs have no expiration date.
F5	1/10th of the shares subject to the Award shall vest on each of the Company's Standard Quarterly Vesting Dates (February 15th, May 15th, August 15th and November 15th of each year; provided, that if such date occurs on a weekend or federal holiday, vesting shall occur on the next business day) beginning on May 15, 2023.