Julie Bradley - 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, 07:53 PM
Previous filing
Jun 16, 2022
Next filing
Apr 11, 2023

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 +27.8K +111.4% $0.00 52.7K Aug 9, 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 WISH Class B Common Stock Conversion of derivative security $0 -27.8K -100% $0.00* 0 Aug 9, 2022 Class A Common Stock 27.8K Direct F1, F2
transaction WISH Restricted Stock Unit Award $0 +83.3K $0.00 83.3K Aug 9, 2022 Class A Common Stock 83.3K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A Common Stock that were acquired by the Reporting Person upon voluntary conversion of Class B Common Stock shares.
F2 Each share of Class B Common Stock automatically converted into one share of Class A Common Stock on August 9, 2022, which was the date on which the number of outstanding shares of Class B Common Stock represented less than 5% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock.
F3 The Reporting Person was issued restricted stock units ("RSUs") which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU. 25% of the RSUs will vest annually beginning on October 14, 2021, subject to the Reporting Person's continuous service with the Issuer through each vesting date. On August 9, 2022, pursuant to the Issuer's Restated Certificate of Incorporation, all shares of Class B Common Stock automatically converted into shares of Class A Common Stock on a one-for-one basis. As a result, all RSUs for the purchase of shares of Class B Common Stock became exercisable for the same number of shares of Class A Common Stock. All other terms of the RSUs remain unchanged.