Carl Bass - Dec 7, 2021 Form 4 Insider Report for Velo3D, Inc. (VLD)

Role
Director
Signature
/s/ William D. McCombe as attorney-in-fact for Carl Bass
Stock symbol
VLD
Transactions as of
Dec 7, 2021
Transactions value $
$0
Form type
4
Date filed
12/9/2021, 07:41 PM
Previous filing
Nov 17, 2021
Next filing
Feb 17, 2022

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 VLD Stock Option (right to buy Common Stock) Award $0 +167K $0.00 167K Dec 7, 2021 Common Stock 167K $0.98 Direct F1, F2
transaction VLD Stock Option (right to buy Common Stock) Award $0 +266K $0.00 266K Dec 7, 2021 Common Stock 266K $0.18 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Business Combination Agreement, dated March 22, 2021 (the "Business Combination Agreement"), by and between JAWS Spitfire Acquisition Corporation, a Cayman Islands exempted company ("JAWS"), Spitfire Merger Sub, Inc., a Delaware corporation, and Velo3D, Inc., a Delaware corporation ("Velo3D"), the parties effected a business combination transaction ("Business Combination") on September 29, 2021. As a result of the Business Combination, Velo3D became a wholly owned subsidiary of JAWS. Velo3D was renamed "Velo3D US, Inc." and JAWS was renamed "Velo3D, Inc." ("New Velo3D"). Pursuant to the forfeiture provision in the Business Combination Agreement, the outstanding options of Velo3D were exchanged for comparable options of New Velo3D at the exchange ratio of 0.8149 to 1, subject to the same terms and conditions that applied to the original grant.
F2 The option is fully vested and exercisable.
F3 The option vests as to 1/4 of the total shares on June 11, 2020, and thereafter 2.0833% of the remaining shares vest monthly until such time as the option is 100% vested, subject to the continued service of the Reporting Person on each vesting date.