Brett Just - 15 Mar 2022 Form 4 Insider Report for ContextLogic Inc. (LOGC)

Signature
/s/ Renee Jackson, Attorney-in-Fact
Issuer symbol
LOGC
Transactions as of
15 Mar 2022
Net transactions value
$0
Form type
4
Filing time
17 Mar 2022, 19:05:48 UTC
Previous filing
18 Feb 2022
Next filing
21 Mar 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 +3,515 +3.3% $0.000000 109,057 15 Mar 2022 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 Restricted Stock Unit Options Exercise $0 -1,100 -14% $0.000000 6,550 15 Mar 2022 Class B Common Stock 1,100 $0.000000 Direct F2, F3
transaction WISH Class B Common Stock Options Exercise $0 +1,100 $0.000000 1,100 15 Mar 2022 Class A Common Stock 1,100 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -140 -6.8% $0.000000 1,910 15 Mar 2022 Class B Common Stock 140 $0.000000 Direct F3, F6
transaction WISH Class B Common Stock Options Exercise $0 +140 +13% $0.000000 1,240 15 Mar 2022 Class A Common Stock 140 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -770 -9% $0.000000 7,750 15 Mar 2022 Class B Common Stock 770 $0.000000 Direct F3, F7
transaction WISH Class B Common Stock Options Exercise $0 +770 +62% $0.000000 2,010 15 Mar 2022 Class A Common Stock 770 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -92 -7.1% $0.000000 1,200 15 Mar 2022 Class B Common Stock 92 $0.000000 Direct F3, F8
transaction WISH Class B Common Stock Options Exercise $0 +92 +4.6% $0.000000 2,102 15 Mar 2022 Class A Common Stock 92 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -615 -5.6% $0.000000 10,455 15 Mar 2022 Class B Common Stock 615 $0.000000 Direct F3, F9
transaction WISH Class B Common Stock Options Exercise $0 +615 +29% $0.000000 2,717 15 Mar 2022 Class A Common Stock 615 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -798 -3.2% $0.000000 23,966 15 Mar 2022 Class B Common Stock 798 $0.000000 Direct F3, F10
transaction WISH Class B Common Stock Options Exercise $0 +798 +29% $0.000000 3,515 15 Mar 2022 Class A Common Stock 798 Direct F4, F5
transaction WISH Class B Common Stock Conversion of derivative security $0 -3,515 -100% $0.000000* 0 15 Mar 2022 Class A Common Stock 3,515 Direct F1, F4, F5
transaction WISH Restricted Stock Unit Award $0 +231,481 $0.000000 231,481 15 Mar 2022 Class A Common Stock 261,780 Direct F11, F12
* 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 ("RSUs"), into Class A common Stock held of record by the Reporting Person.
F2 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 20% of the RSUs vested on September 5, 2018, and an additional 1/60th of the remaining RSUs vest monthly thereafter for a period of 5 years.
F3 This reported transaction represents the settlement of RSUs vested as of March 15, 2022.
F4 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.
F5 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.
F6 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 20% of the RSUs vested on May 1, 2019, and an additional 1/60th of the remaining RSUs vest monthly thereafter for a period of 5 years.
F7 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 25% of the RSUs vested on January 1, 2020, and 1/36th of the RSUs vest monthly thereafter for a period of 3 years.
F8 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on May 1, 2019.
F9 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on September 1, 2019.
F10 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on October 1, 2020.
F11 The Reporting Person was granted RSUs which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU.
F12 Subject to the Reporting Person's continuous service, 1/8th of the RSUs will vest on May 15, 2022, with an additional 1/8th of the RSUs vesting on each Company Vesting Date thereafter. A "Company Vesting Date" means 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).