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

Role
Chief Accounting Officer
Signature
/s/ Marianne Lewis, Attorney-in-Fact
Issuer symbol
LOGC
Transactions as of
15 Jun 2022
Net transactions value
-$2,100
Form type
4
Filing time
17 Jun 2022, 18:19:35 UTC
Previous filing
17 May 2022
Next filing
19 Jul 2022
SEC
View on sec.gov

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 +3,505 +2.6% $0.000000 136,119 15 Jun 2022 Direct F1, F2
transaction WISH Class A Common Stock Tax liability $2,100 -1,214 -0.89% $1.73 134,905 15 Jun 2022 Direct F3

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 -1,090 -25% $0.000000 3,280 15 Jun 2022 Class B Common Stock 1,090 $0.000000 Direct F4, F5
transaction WISH Class B Common Stock Options Exercise $0 +1,090 $0.000000 1,090 15 Jun 2022 Class A Common Stock 1,090 Direct F6, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -140 -8.5% $0.000000 1,500 15 Jun 2022 Class B Common Stock 140 $0.000000 Direct F5, F8
transaction WISH Class B Common Stock Options Exercise $0 +140 +13% $0.000000 1,230 15 Jun 2022 Class A Common Stock 140 Direct F6, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -770 -12% $0.000000 5,430 15 Jun 2022 Class B Common Stock 770 $0.000000 Direct F5, F9
transaction WISH Class B Common Stock Options Exercise $0 +770 +63% $0.000000 2,000 15 Jun 2022 Class A Common Stock 770 Direct F6, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -92 -9.1% $0.000000 924 15 Jun 2022 Class B Common Stock 92 $0.000000 Direct F5, F10
transaction WISH Class B Common Stock Options Exercise $0 +92 +4.6% $0.000000 2,092 15 Jun 2022 Class A Common Stock 92 Direct F6, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -615 -6.7% $0.000000 8,610 15 Jun 2022 Class B Common Stock 615 $0.000000 Direct F5, F11
transaction WISH Class B Common Stock Options Exercise $0 +615 +29% $0.000000 2,707 15 Jun 2022 Class A Common Stock 615 Direct F6, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -798 -3.6% $0.000000 21,572 15 Jun 2022 Class B Common Stock 798 $0.000000 Direct F5, F12
transaction WISH Class B Common Stock Options Exercise $0 +798 +29% $0.000000 3,505 15 Jun 2022 Class A Common Stock 798 Direct F6, F7
transaction WISH Restricted Stock Unit Conversion of derivative security $0 -3,505 -100% $0.000000* 0 15 Jun 2022 Class A Common Stock 3,505 Direct F1, F6, F7
* 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 Includes 2,500 shares acquired under ContextLogic's employee stock purchase plan on May 20, 2022.
F3 Represents the number of shares held by the Issuer to satisfy the tax withholding obligation in connection with the settlement of RSUs.
F4 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.
F5 This reported transaction represents the settlement of RSUs vested as of June 15, 2022.
F6 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.
F7 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.
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, 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.
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, 25% of the RSUs vested on January 1, 2020, and 1/36th of the RSUs vest monthly thereafter for a period of 3 years.
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 May 1, 2019.
F11 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.
F12 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.