Christopher Wendel - Mar 26, 2022 Form 4 Insider Report for Volta Inc. (VLTA)

Signature
/s/ James DeGraw, as Attorney-in-Fact
Stock symbol
VLTA
Transactions as of
Mar 26, 2022
Transactions value $
$0
Form type
4
Date filed
3/29/2022, 09:53 PM
Previous filing
Mar 29, 2022
Next filing
Apr 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VLTA Class A Common Stock Conversion of derivative security +6.89M +102.85% 13.6M Mar 26, 2022 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 VLTA Class B Common Stock Conversion of derivative security -6.89M -100% 0 Mar 26, 2022 Class A Common Stock 6.89M Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Christopher Wendel is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In accordance with a Settlement and Release Agreement effective as of March 26, 2022 between the Issuer and the Reporting Person (the "Settlement and Release Agreement"), the Reporting Person agreed that all outstanding shares of Class B Common Stock and securities representing shares of Class B Common Stock (including options and restricted stock units) would be converted on a one-for-one basis (in accordance with the Issuer's certificate of incorporation) into shares of Class A Common Stock.
F2 Excludes an aggregate of 2,117,972 shares of Class A Common Stock underlying restricted stock unit awards that were forfeited by the Reporting Person pursuant to the Settlement and Release Agreement.