Devang Shah - May 15, 2021 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
General Counsel and Secretary
Signature
/s/ Renee Jackson, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
May 15, 2021
Transactions value $
$0
Form type
4
Date filed
7/22/2021, 07:09 PM
Next filing
May 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WISH Class A Common Stock Conversion of derivative security $0 +95.5K +311.77% $0.00 126K May 15, 2021 Direct F1
transaction WISH Class A Common Stock Conversion of derivative security $0 +20.7K +28.39% $0.00 93.5K Jun 15, 2021 Direct F1, F2
transaction WISH Class A Common Stock Conversion of derivative security $0 +20.7K +30.43% $0.00 88.6K Jul 15, 2021 Direct F1

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 WISH Class B Common Stock Conversion of derivative security $0 -95.5K -100% $0.00* 0 May 15, 2021 Class A Common Stock 95.5K Direct F1, F3, F4, F5
transaction WISH Class B Common Stock Conversion of derivative security $0 -20.7K -100% $0.00* 0 Jun 15, 2021 Class A Common Stock 20.7K Direct F1, F3, F4, F5
transaction WISH Class B Common Stock Conversion of derivative security $0 -20.7K -100% $0.00* 0 Jul 15, 2021 Class A Common Stock 20.7K Direct F1, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the conversion of Class B Common Stock, issued upon settlement of vested Restricted Stock Units, into Class A Common Stock held of record by the Reporting Person.
F2 Includes 2,083 shares acquired under ContextLogic Inc.'s employee stock purchase plan on May 20, 2021.
F3 All shares of Class B Common Stock will automatically convert, on a one-for-one basis, into shares of Class A Common Stock on the earliest of (i) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions, (ii) the 7-year anniversary of the closing date of the issuer's initial public offering, (iii) the date on which the number of outstanding shares of Class B Common Stock represents less than 5% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock, (iv) the date specified by a vote of the holders of a majority of the then outstanding shares of Class B common stock, or (v) a date that is between 90 and 270 days, as determined by the board of directors, after the death or permanent incapacity of the issuer's founder, CEO, and Chairperson.
F4 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except certain permitted transfers.
F5 The Reporting Person elected to convert the Class B Common Stock, issued upon settlement of vested Restricted Stock Units, to Class A Common Stock on a 1-for-1 basis.