Brian K. Krolicki - 21 Jul 2021 Form 4 Insider Report for FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI)

Role
Director
Signature
/s/ Jarret Johnson, as Attorney-in-Fact for Brian Krolicki
Issuer symbol
FFAI
Transactions as of
21 Jul 2021
Net transactions value
$0
Form type
4
Filing time
23 Jul 2021, 16:06:33 UTC
Next filing
20 Aug 2021
SEC
View on sec.gov

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 +45,922 45,922 21 Jul 2021 Class A Common Stock 45,922 $2.55 Direct F1, F2
transaction FFIE Stock Option (Right to Buy) Award +50,044 50,044 21 Jul 2021 Class A Common Stock 50,044 $2.55 Direct F1, F3
transaction FFIE Stock Option (Right to Buy) Award +7,653 7,653 21 Jul 2021 Class A Common Stock 7,653 $7.95 Direct F1, F4
* 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 vested in a series of 12 equal annual installments starting on May 1, 2020.
F3 These stock options vest in a series of 36 equal monthly installments starting on July 1, 2019, subject to the reporting person's continued employment through the applicable vesting date.
F4 These stock options vested 50% on June 1, 2021 and 50% on July 1, 2021.