Hamid Reza Kassaei - 15 Aug 2021 Form 4 Insider Report for ContextLogic Inc. (LOGC)

Signature
Renee Jackson, Attorney-in-Fact
Issuer symbol
LOGC
Transactions as of
15 Aug 2021
Net transactions value
-$294,597
Form type
4
Filing time
19 Aug 2021, 21:44:10 UTC
Previous filing
12 Jul 2021
Next filing
17 Nov 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WISH Class A Common Stock Options Exercise $0 +110,652 $0.000000 110,652 15 Aug 2021 Direct
transaction WISH Class A Common Stock Sale $294,597 -42,589 -38% $6.92 68,063 16 Aug 2021 Direct F1, F2

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 Restricted Stock Unit Options Exercise $0 -110,652 -6.2% $0.000000 1,659,782 15 Aug 2021 Class A Common Stock 110,652 $0.000000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units ("RSUs"). The sale is mandated by the Issuer's election to require the satisfaction of tax withholdings obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices with the range of $6.750 to $6.930, inclusive. The Reporting Person undertakes to provide, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 This reported transaction represents the settlement of RSUs vested as of August 15, 2021.
F4 Each RSU represents a contingent right to receive on share of Issuer's Class A Common Stock. Subject to the reporting person's continuous service, 6.25% of the RSUs will vest on a quarterly basis beginning on August 15, 2021 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date (unless the Reporting Person and the Company have agreed in writing to a later settlement date pursuant to procedures the Company may prescribe at its discretion).