Benedikt Hartmann - 21 Jul 2021 Form 4 Insider Report for FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI)

Role
Senior VP of Supply Chain
Signature
/s/ Jarret Johnson, attorney-in-fact for Benedikt Hartmann
Issuer symbol
FFAI
Transactions as of
21 Jul 2021
Net transactions value
$0
Form type
4
Filing time
23 Jul 2021, 16:05:57 UTC
Next filing
02 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FFIE Class A Common Stock Award +14,306 14,306 21 Jul 2021 Direct F1, F8, F9

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 +169,560 169,560 21 Jul 2021 Class A Common Stock 169,560 $2.41 Direct F1, F2
transaction FFIE Stock Option (Right to Buy) Award +84,780 84,780 21 Jul 2021 Class A Common Stock 84,780 $2.41 Direct F1, F3
transaction FFIE Stock Option (Right to Buy) Award +84,780 84,780 21 Jul 2021 Class A Common Stock 84,780 $2.41 Direct F1, F4
transaction FFIE Stock Option (Right to Buy) Award +84,780 84,780 21 Jul 2021 Class A Common Stock 84,780 $2.41 Direct F1, F5
transaction FFIE Stock Option (Right to Buy) Award +18,741 18,741 21 Jul 2021 Class A Common Stock 18,741 $2.41 Direct F1, F6
transaction FFIE Stock Option (Right to Buy) Award +2,082 2,082 21 Jul 2021 Class A Common Stock 2,082 $2.41 Direct F1
transaction FFIE Stock Option (Right to Buy) Award +62,324 62,324 21 Jul 2021 Class A Common Stock 62,324 $2.41 Direct F1, F7
transaction FFIE Stock Option (Right to Buy) Award +1,687 1,687 21 Jul 2021 Class A Common Stock 1,687 $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 January 21, 2021, 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 January 21, 2021, 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 January 21, 2022, 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 January 21, 2023, 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 These stock options vest 25% on October 15, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.
F8 Includes 259 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.
F9 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.