DAVID A. EBERSMAN - 12 Jul 2021 Form 4 Insider Report for CASTLIGHT HEALTH, INC.

Role
Director
Signature
/s/ Mary Ahern, as attorney-in-fact
Issuer symbol
N/A
Transactions as of
12 Jul 2021
Net transactions value
$0
Form type
4
Filing time
14 Jul 2021, 19:19:40 UTC
Previous filing
14 Jun 2021
Next filing
18 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CSLT Class B Common Stock Conversion of derivative security +260,973 +78% 595,450 12 Jul 2021 By family trust F1, F2, F3, F4
holding CSLT Class B Common Stock 70,707 12 Jul 2021 Direct

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 CSLT Director Stock Option (right to buy) Options Exercise $0 -260,973 -100% $0.000000* 0 12 Jul 2021 Class A Common Stock 260,973 $0.8400 Direct F1, F2, F5
transaction CSLT Class A Common Stock Options Exercise $0 +260,973 +913% $0.000000 289,544 12 Jul 2021 Class B Common Stock 260,973 Direct F1, F2
transaction CSLT Class A Common Stock Conversion of derivative security $0 -260,973 -90% $0.000000 28,571 12 Jul 2021 Class B Common Stock 260,973 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of issuer's Class A Common Stock is convertible at any time at the option of the holder into one (1) share of Class B Common Stock. In addition, each share of Class A Common Stock will convert automatically into one (1) share of Class B Common Stock upon the transfer, whether or not for value, to any transferee who is not a "Permitted Transferee", as defined in the issuer's Restated Certificate of Incorporation in effect as of the date hereof. The shares of Class A Common Stock have no expiration date.
F2 Each share of the issuer's Class A Common Stock will convert automatically into one (1) share of Class B Common Stock upon the earliest to occur of the following: (a) the first date on which the number of shares of Class A Common Stock then outstanding is less than 15,340,384 shares, (b) March 19, 2024, or (c) a time and date approved in writing by holders of at least a majority of the then-outstanding shares of Class A Common Stock.
F3 334,477 shares previously reported as held directly by the Reporting Person are held by the family trust and are reflected as such in this Form 4.
F4 The shares are held by The Ebersman Family Trust UTA dated 5/29/2002 of which the Reporting Person and his wife are co-trustees.
F5 The stock option has fully vested and is immediately exercisable.