Lawrence M. Kutscher - Aug 9, 2022 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
Director
Signature
/s/ Marianne Lewis, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
Aug 9, 2022
Transactions value $
$0
Form type
4
Date filed
8/11/2022, 06:57 PM
Next filing
Feb 13, 2023

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 Award $0 +262K $0.00 262K Aug 9, 2022 Class A Common Stock 262K Direct F1, F2
transaction WISH Restricted Stock Unit Award $0 +4.96K $0.00 4.96K Aug 9, 2022 Class A Common Stock 4.96K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU.
F2 The RSUs were granted in connection with the Reporting Person's service as a member of the Board of Directors for the Issuer. Subject to the Reporting Person's continued service, one-third of the RSUs will vest annually beginning on August 9, 2023. 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).
F3 The RSUs were granted in connection with the Reporting Person's service as a member of the Audit Committee of the Board of Directors for the Issuer. Subject to the Reporting Person's continued service, the RSUs will vest in full on the earlier of the one-year anniversary of the date of grant or on the date of the regular annual meeting of the Issuer's stockholders following the date of grant. 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).