Stuart Landesberg - Aug 15, 2023 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)

Role
President & CEO, Director, 10%+ Owner
Signature
/s/Barbara Wallace, Attorney-in-Fact for Stuart Landesberg
Stock symbol
GROV
Transactions as of
Aug 15, 2023
Transactions value $
-$165,450
Form type
4
Date filed
8/17/2023, 07:54 PM
Previous filing
Jun 12, 2023
Next filing
Nov 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GROV Class A Common Stock Options Exercise +31.7K +4.44% 746K Aug 15, 2023 Direct F1
transaction GROV Class A Common Stock Tax liability -$34.4K -15.7K -2.11% $2.19 730K Aug 15, 2023 Direct F2
transaction GROV Class A Common Stock Options Exercise +45.1K +6.17% 775K Aug 15, 2023 Direct F1
transaction GROV Class A Common Stock Tax liability -$48.9K -22.3K -2.88% $2.19 752K Aug 15, 2023 Direct F2
transaction GROV Class A Common Stock Options Exercise +75.6K +10.05% 828K Aug 15, 2023 Direct F1
transaction GROV Class A Common Stock Tax liability -$82.1K -37.5K -4.53% $2.19 791K Aug 15, 2023 Direct F2
holding GROV Class A Common Stock 124K Aug 15, 2023 See footnote F3

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 -31.7K -14.77% 183K Aug 15, 2023 Class A Common Stock 31.7K Direct F1, F4, F5
transaction GROV Restricted Stock Units Options Exercise -45.1K -9.09% 451K Aug 15, 2023 Class A Common Stock 45.1K Direct F1, F5, F6
transaction GROV Restricted Stock Units Options Exercise -75.6K -11.11% 605K Aug 15, 2023 Class A Common Stock 75.6K Direct F1, F5, F6
* 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 securities are directly held by The Landesberg Living Trust, dated October 15, 2021, for which the Reporting Person and his spouse serve as co-trustees.
F4 These RSUs will vest in equal installments on each February 15, May 15, August 15 and November 15 until becoming fully vested on February 15, 2025, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.
F5 The RSUs have no expiration date.
F6 These RSUs will vest in twelve equal installments on each 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, with accelerated vesting following a change in control if the Reporting Person's services are terminated by the Issuer without cause or the Reporting Person resigns for good reason.