Carsten Breitfeld - Jul 21, 2021 Form 4 Insider Report for FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFIE)

Role
Global Chief Exec. Officer, Director
Signature
/s/ Jarret Johnson, attorney-in-fact for Carsten Breitfeld
Stock symbol
FFIE
Transactions as of
Jul 21, 2021
Transactions value $
$0
Form type
4
Date filed
7/23/2021, 04:05 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FFIE Class A Common Stock Award +549K 549K Jul 21, 2021 Direct F1, F7, F8

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 FFIE Stock Option (Right to Buy) Award +735K 735K Jul 21, 2021 Class A Common Stock 735K $2.41 Direct F1, F2
transaction FFIE Stock Option (Right to Buy) Award +367K 367K Jul 21, 2021 Class A Common Stock 367K $2.41 Direct F1, F3
transaction FFIE Stock Option (Right to Buy) Award +367K 367K Jul 21, 2021 Class A Common Stock 367K $2.41 Direct F1, F4
transaction FFIE Stock Option (Right to Buy) Award +367K 367K Jul 21, 2021 Class A Common Stock 367K $2.41 Direct F1, F5
transaction FFIE Stock Option (Right to Buy) Award +95.8K 95.8K Jul 21, 2021 Class A Common Stock 95.8K $2.41 Direct F1, F6
transaction FFIE Stock Option (Right to Buy) Award +10.6K 10.6K Jul 21, 2021 Class A Common Stock 10.6K $2.41 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc."
F2 These stock options vest 25% on September 3, 2020, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.
F3 These stock options vest in a series of 48 equal monthly installments starting on September 3, 2020, subject to the reporting person's continued employment through the applicable vesting date.
F4 These stock options vest in a series of 48 equal monthly installments starting on September 3, 2021, subject to the reporting person's continued employment through the applicable vesting date.
F5 These stock options vest in a series of 48 equal monthly installments starting on September 3, 2022, subject to the reporting person's continued employment through the applicable vesting date.
F6 These stock options vest 25% on March 16, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.
F7 Includes 27,768 shares of the Issuer's Class A common stock (the "Earnout Shares") that the reporting person has the right to receive if the trading price of the Issuer's Class A common stock reaches certain thresholds ("Price Thresholds"). The reporting person's right to receive the Earnout Shares became fixed and irrevocable at Closing. Any Earnout Shares that have not vested by the fifth anniversary of the closing of the Issuer's initial public offering will be forfeited.
F8 The Earnout Shares subject to the Price Thresholds vest in in equal halves if the trading price of Common Stock is greater than or equal to $13.50 and $15.50, respectively, for any 20 trading days within any 30-trading day period.