Edward P. Lazarus - Nov 15, 2023 Form 4 Insider Report for Sonos Inc (SONO)

Role
CFO & CLO
Signature
/s/ Rebecca Schuster by power of attorney
Stock symbol
SONO
Transactions as of
Nov 15, 2023
Transactions value $
-$72,402
Form type
4
Date filed
11/17/2023, 05:56 PM
Previous filing
Nov 8, 2023
Next filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SONO Common Stock Options Exercise +13K +5.24% 260K Nov 15, 2023 Direct F1, F2
transaction SONO Common Stock Tax liability -$72.4K -6.43K -2.47% $11.26 254K Nov 15, 2023 Direct 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 SONO Restricted Stock Units Options Exercise $0 -9.46K -6.17% $0.00 144K Nov 15, 2023 Common Stock 9.46K Direct F1, F2, F4
transaction SONO Restricted Stock Units Options Exercise $0 -3.5K -2.44% $0.00 140K Nov 15, 2023 Common Stock 3.5K Direct F1, F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
F2 Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon vesting and settlement for no consideration.
F3 Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were withheld by the Issuer in accordance with the agreement governing the RSUs to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of RSUs.
F4 1/16 of the shares subject to the RSUs vest in equal installments on each quarterly anniversary date following the applicable vesting commencement date, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. The RSUs are subject to double-trigger acceleration.
F5 These RSUs will vest on the following schedule: 6.25% of the shares subject to the RSU will vest quarterly in year 1 following the vesting commencement date of November 15, 2021; 12.5% of the shares subject to the RSU will vest quarterly in year 2; and 6.25% of the shares subject to the RSU will vest quarterly in year 3, in each case subject to the continuing employment of the Reporting Person on each vesting date. The RSUs are subject to double-trigger acceleration.