Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | ACHR | Restricted Stock Units | Award | $0 | +24.3K | $0.00 | 24.3K | Jun 10, 2022 | Class A Common Stock | 24.3K | Direct | F1, F2, F3, F4 | ||
transaction | ACHR | Deferred Restricted Stock Units | Award | $0 | +24.3K | $0.00 | 24.3K | Jun 10, 2022 | Class A Common Stock | 24.3K | Direct | F1, F2, F4, F5 |
Id | Content |
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F1 | Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the reporting person's continued service to the Issuer as of the applicable vesting date. |
F2 | This award represents one half of the total grant value of $200,000 divided by the Issuer's closing stock price on June 10, 2022 for its Class A Common Stock, rounded to the nearest whole share, as calculated in accordance with the Issuer's Non-Employee Director Compensation Policy as adopted by the Compensation Committee of the Issuer's Board of Directors. |
F3 | The entire award will vest on the earlier of the: (i) one year anniversary of the grant date specified in Column 3 of Table II (the "Grant Date") or (ii) date of the Issuer's 2023 annual stockholders' meeting (in each case, the "RSU Vesting Date"). |
F4 | These RSUs do not expire; they either will vest on the RSU Vesting Date or they will be cancelled prior to the RSU Vesting Date in the event the reporting person ceases to provide services to the Issuer. |
F5 | All of these RSUs will vest as of the RSU Vesting Date. On the RSU Vesting Date, pursuant to the reporting person's election, these RSUs will automatically convert into an equal number of deferred stock units, which will be settled for an equal number of shares of the Issuer's Class A Common Stock on the fifth anniversary of the Grant Date. Notwithstanding the aforementioned deferral period, from and after the RSU Vesting Date, the deferred stock units may automatically settle earlier upon the reporting person's death, disability, or separation from service with the Issuer, or upon the occurrence of an "unforeseeable emergency," as that term is defined under the deferred compensation program. |