Jacqueline D. Reses - 11 May 2021 Form 4 Insider Report for ContextLogic Inc. (LOGC)

Role
Executive Chairperson, Director
Signature
/s/ Jilliana Wong, attorney-in-fact
Issuer symbol
LOGC
Transactions as of
11 May 2021
Net transactions value
$0
Form type
4
Filing time
13 May 2021, 19:42:32 UTC
Next filing
13 Apr 2022
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 WISH Restricted Stock Unit Award $0 +828,500 $0.000000 828,500 11 May 2021 Class A Common Stock 828,500 Direct F1, F2
transaction WISH Restricted Stock Unit Award $0 +828,500 $0.000000 828,500 11 May 2021 Class A Common Stock 828,500 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU.
F2 Subject to the reporting person's continuous service, 33.33% of the RSUs will vest on May 15, 2022, and an additional 1/8th of the remaining RSUs will vest on each Company Vesting Date (February 15th, May 15th, August 15th, or November 15th) thereafter. Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date.
F3 The RSUs granted to the reporting person are subject to vesting based on achievement of a stock price multiple on May 15, 2023, as well as the reporting person's continuous service through such date, as set forth in the RSU Agreement (with a maximum level of vesting of 200%). Vested RSUs will settle no later than two and one-half months following the end of the year in which the vesting date applicable to an RSU occurs.