Piotr Szulczewski - Jan 18, 2022 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role: Founder and CEO, Director, 10%+ Owner
Signature: /s/ Renee Jackson, Attorney-in-Fact
Stock symbol: WISH
Transactions as of: Jan 18, 2022
Transactions value $: -$132,530
Form type: 4
Date filed: 1/20/2022, 06:34 PM
Previous filing: Jan 19, 2022
Next filing: Feb 17, 2022

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	+54.1K		$0.00	54.1K	Jan 18, 2022	Direct	F1
transaction	WISH	Class A Common Stock	Sale	-$133K	-54.1K	-100%	$2.45	0	Jan 18, 2022	Direct	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	Class B Common Stock	Conversion of derivative security	$0	-54.1K	-0.1%	$0.00	56.6M	Jan 18, 2022	Class A Common Stock	54.1K		Direct	F1, F3, F4

* 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 purposes of selling to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units ("RSUs").
F2	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 RSUs. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
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.