Jeannine P. Sargent - Jun 14, 2021 Form 4 Insider Report for ArcLight Clean Transition Corp. (PTRA)

Role
Director
Signature
/s/ Joshua Damm, Attorney-in-Fact
Stock symbol
PTRA
Transactions as of
Jun 14, 2021
Transactions value $
$0
Form type
4
Date filed
6/16/2021, 08:52 PM
Previous filing
Jun 10, 2021
Next filing
Jul 22, 2021

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 PTRA Stock Option (Right to Buy) Award +201K 201K Jun 14, 2021 Common Stock 201K $5.41 Direct F1, F2
transaction PTRA Stock Option (Right to Buy) Award +44.6K 44.6K Jun 14, 2021 Common Stock 44.6K $6.00 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +20.1K 20.1K Jun 14, 2021 Common Stock 20.1K $4.78 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1/48 of the total shares underlying the option vest monthly beginning on November 18, 2018 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F2 Pursuant to the business combination of ArcLight Clean Transition Corp. and Proterra Inc ("Old Proterra"), each share of Old Proterra outstanding common stock was automatically converted into the right to shares of the Issuer's Common Stock based on a 1 to 0.8925 conversion ratio ("Conversion Ratio"). In addition, each outstanding Old Proterra equity award was automatically converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Old Proterra equity awards.
F3 1/48 of the total shares underlying the option vest monthly beginning on January 23, 2020 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F4 1/48 of the total shares underlying the option vest monthly beginning on January 21, 2021 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.