JoAnn Covington - Jun 14, 2021 Form 4 Insider Report for ArcLight Clean Transition Corp. (PTRA)

Role
Chief Legal Officer, Secy
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, 09:00 PM
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 +446K 446K Jun 14, 2021 Common Stock 446K $2.18 Direct F1, F2
transaction PTRA Stock Option (Right to Buy) Award +66.9K 66.9K Jun 14, 2021 Common Stock 66.9K $5.41 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +44.6K 44.6K Jun 14, 2021 Common Stock 44.6K $5.41 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +22.3K 22.3K Jun 14, 2021 Common Stock 22.3K $6.00 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +22.3K 22.3K Jun 14, 2021 Common Stock 22.3K $6.00 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +66.9K 66.9K Jun 14, 2021 Common Stock 66.9K $4.62 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +178K 178K Jun 14, 2021 Common Stock 178K $4.62 Direct F2, F3
transaction PTRA Stock Option (Right to Buy) Award +26.8K 26.8K Jun 14, 2021 Common Stock 26.8K $4.78 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option is fully vested.
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 Issuers 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 6.25% of the total shares underlying the option vest quarterly installments until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.