Gareth T. Joyce - Jun 14, 2021 Form 4 Insider Report for ArcLight Clean Transition Corp. (PTRA)

Role
President, Power and Energy
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, 08:54 PM
Next filing
Oct 13, 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) +Grant/Award +83,802 83,802 Jun 14, 2021 Common Stock 83,802 $4.78 Direct F1, F2
transaction PTRA Stock Option (Right to Buy) +Grant/Award +732,835 732,835 Jun 14, 2021 Common Stock 732,835 $4.78 Direct F1, F2

Explanation of Responses:

Id Content
F1 The stock option vests as to 25% of the total shares on December 17, 2021, and thereafter vests as to the total shares quarterly until fully vested, subject to the Reporting Person's provision of 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.