Devang Shah - 09 Aug 2022 Form 4 Insider Report for ContextLogic Inc. (LOGC)

Role
GC, Sec, Chief Admin Officer
Signature
/s/ Marianne Lewis - Attorney-in-Fact
Issuer symbol
LOGC
Transactions as of
09 Aug 2022
Net transactions value
$0
Form type
4
Filing time
11 Aug 2022, 19:57:06 UTC
Previous filing
19 Jul 2022
Next filing
18 Jan 2023
SEC
View on sec.gov

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 +66,930 $0.000000 66,930 09 Aug 2022 Class A Common Stock 66,930 Direct F1
transaction WISH Restricted Stock Unit Award $0 +70,830 $0.000000 70,830 09 Aug 2022 Class A Common Stock 70,830 Direct F2
transaction WISH Restricted Stock Unit Award $0 +135,424 $0.000000 135,424 09 Aug 2022 Class A Common Stock 135,424 Direct 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 issued Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU. Subject to the Reporting Person's continued service, 20% of the RSUs vested on February 5, 2019, and 1/60th of the RSUs vest monthly thereafter for a period of 4 years. 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.
F2 The Reporting Person was issued RSUs which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU. Subject to the Reporting Person's continued service, the RSUs vest on a monthly basis over a period of 4 years beginning on May 1, 2019, with 10% of the total RSUs vesting over the first year, 20% of the total vesting over the second year, 30% of the total vesting over the third year, and 40% of the total vesting over the fourth year. 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.
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. Subject to the Reporting Person's continued service, 1/48th of the RSUs vest on a monthly basis beginning on October 1, 2020 for a period of 4 years. 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.