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)	Award		+83.8K			83.8K	Jun 14, 2021	Common Stock	83.8K	$4.78	Direct	F1, F2
transaction	PTRA	Stock Option (Right to Buy)	Award		+733K			733K	Jun 14, 2021	Common Stock	733K	$4.78	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.

Content

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.

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.