Stuart Landesberg - Nov 15, 2022 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)

Role
President & CEO, Director
Signature
/s/ Barbara Wallace, Attorney-in-Fact for Stuart Landesberg
Stock symbol
GROV
Transactions as of
Nov 15, 2022
Transactions value $
-$1,307,038
Form type
4
Date filed
11/17/2022, 07:48 PM
Previous filing
Nov 16, 2022
Next filing
Dec 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GROV Class A Common Stock Options Exercise +2.45M +914.45% 2.72M Nov 15, 2022 Direct F1
transaction GROV Class A Common Stock Tax liability -$1.31M -1.09M -40.09% $1.20 1.63M Nov 15, 2022 Direct
holding GROV Class A Common Stock 618K Nov 15, 2022 See footnote F2

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 $0 -1.89M -53.12% $0.00 1.67M Nov 15, 2022 Class A Common Stock 1.89M Direct F1, F3
transaction GROV Restricted Stock Units Options Exercise $0 -555K -21.88% $0.00 1.98M Nov 15, 2022 Class A Common Stock 555K Direct F1, F4
* 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 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.
F3 These RSUs vest approximately as follows: (i) with respect to 3,342,651 RSUs, 50% vested on October 27, 2022 and settled on November 15, 2022, and the remaining 50% will vest in two equal installments on each of February 15, 2023 and May 15, 2023, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date, and (ii) with respect to 222,844 RSUs, these vested and settled on November 15, 2022. The RSUs have no expiration date.
F4 These RSUs vest approximately as follows: (i) with respect to 1,109,586 RSUs, 50% vested on October 27, 2022 and settled on November 15, 2022, and the remaining 50% will vest in two equal installments on each of February 15, 2023 and May 15, 2023, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date, and (ii) with respect to 1,426,594 RSUs, these 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. The RSUs have no expiration date.