Hans Tung - Sep 9, 2021 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
Director
Signature
/s/ Renee Jackson, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
Sep 9, 2021
Transactions value $
-$3,705,508
Form type
4
Date filed
9/13/2021, 07:56 PM
Previous filing
Sep 8, 2021
Next filing
Sep 17, 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 +4.6M +17.53% $0.00 30.8M May 18, 2021 By GGV Capital IV, L.P. F1, F2
transaction WISH Class A Common Stock Sale -$1.53M -216K -0.7% $7.05 30.6M Sep 9, 2021 By GGV Capital IV, L.P. F2, F3
transaction WISH Class A Common Stock Sale -$2.1M -306K -1% $6.88 30.3M Sep 10, 2021 By GGV Capital IV, L.P. F2, F4
transaction WISH Class A Common Stock Sale -$32.4K -4.6K -0.83% $7.05 552K Sep 9, 2021 By GGV Capital IV Entrepreneurs Fund L.P. F3, F5
transaction WISH Class A Common Stock Sale -$44.7K -6.49K -1.18% $6.88 545K Sep 10, 2021 By GGV Capital IV Entrepreneurs Fund L.P. F4, F5
holding WISH Class A Common Stock 6.56M Sep 9, 2021 By GGV Capital Select L.P. F6

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 -4.6M -100% $0.00* 0 May 18, 2021 Class A Common Stock 4.6M By GGV Capital IV L.P. F1, F2, F7, F8
holding WISH Class B Common Stock 97.5K Sep 9, 2021 Class A Common Stock 97.5K By GGV Capital IV Entrepreneurs Fund L.P. F5, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares of Class A Common Stock that were acquired by the Reporting Person upon conversion of Class B Common Stock shares for no additional consideration at the option of the Reporting Person.
F2 The shares are held directly by GGV Capital IV, L.P. The Reporting Person is a Managing Partner of GGV Capital IV L.L.C., which is the general partner of GGV Capital IV, L.P., and the Reporting Person may be deemed to share voting and investment powers with regard to the securities held directly by such entities.
F3 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.00 to $7.24. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.78 to $7.24. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The shares are held directly by GGV Capital IV Entrepreneurs Fund L.P. The Reporting Person is a Managing Partner of GGV Capital IV L.L.C., which is the general partner of GGV Capital IV Entrepreneurs Fund L.P., and the Reporting Person may be deemed to share voting and investment powers with regard to the securities held directly by such entities.
F6 The shares are held directly by GGV Capital Select L.P. The Reporting Person is a Managing Partner of GGV Capital Select L.L.C, which is the general partner of GGV Capital Select L.P., and the Reporting Person may be deemed to share voting and investment powers with regard to the securities held directly by such entities.
F7 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.
F8 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.

Remarks:

Exhibit 24 - Power of Attorney