Joseph Vernachio - May 22, 2022 Form 4/A - Amendment Insider Report for Allbirds, Inc. (BIRD)

Role: Chief Operating Officer
Signature: Joe Vernachio, by /s/ Ron A. Metzger, Attorney-in-Fact
Stock symbol: BIRD
Transactions as of: May 22, 2022
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 5/25/2022, 08:04 PM
Date Of Original Report: May 24, 2022
Previous filing: Nov 2, 2021
Next filing: Sep 6, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BIRD	Class A Common Stock	Award	$0	+197K		$0.00	197K	May 22, 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	BIRD	Stock Option (Right to Buy)	Disposed to Issuer		-425K	-100%		0	May 22, 2022	Class B Common Stock	425K	$8.43	Direct	F2, F3, F4
transaction	BIRD	Stock Option (Right to Buy)	Award		+425K			425K	May 22, 2022	Class B Common Stock	425K	$4.39	Direct	F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share is represented by a restricted stock unit ("RSU"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement. 1/12 of the RSUs shall vest on the three-month anniversary of June 1, 2022, and 1/12 of the RSUs shall vest quarterly thereafter, in each case subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2021 Equity Incentive Plan) through the applicable vesting date.
F2	The option vests as to 1/4 of the shares subject to the option on June 1, 2022, and the remainder of the shares vest in 36 equal monthly installments thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2015 Equity Incentive Plan) on each such vesting date.
F3	Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Each share of Class B Common Stock held by the Reporting Person will convert automatically into one share of Class A Common Stock upon the sale or transfer of such share of Class B Common Stock, subject to certain exceptions, and in certain other circumstances described in the Issuer's amended and restated certificate of incorporation.
F4	On May 22, 2022, the option granted to the Reporting Person on June 26, 2021 was amended to reduce the exercise price to $4.39 per share.

Remarks:

This Amendment to Form 4 is being filed solely to correct the exercise price as noted in footnote 4.