Navam Welihinda - Feb 1, 2023 Form 4 Insider Report for HashiCorp, Inc. (HCP)

Role: Chief Financial Officer
Signature: /s/ Paul Warenski, by power of attorney
Stock symbol: HCP
Transactions as of: Feb 1, 2023
Transactions value $: -$1,500,420
Form type: 4
Date filed: 2/3/2023, 04:32 PM
Previous filing: Jan 18, 2023
Next filing: Mar 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCP	Class A Common Stock	Conversion of derivative security		+50K	+636.86%		57.9K	Feb 2, 2023	Direct	F1
transaction	HCP	Class A Common Stock	Sale	-$1.5M	-50K	-86.43%	$30.01	7.85K	Feb 2, 2023	Direct	F2, 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	HCP	Restricted Stock Units	Award	$0	+136K		$0.00	136K	Feb 1, 2023	Class A Common Stock	136K		Direct	F4, F5
transaction	HCP	Employee Stock Option (right to buy)	Options Exercise	$0	-50K	-44.58%	$0.00	62.2K	Feb 2, 2023	Class B Common Stock	50K	$5.32	Direct	F5
transaction	HCP	Class B Common Stock	Options Exercise	$0	+50K	+27.77%	$0.00	230K	Feb 2, 2023	Class A Common Stock	50K		Direct	F1
transaction	HCP	Class B Common Stock	Conversion of derivative security	$0	-50K	-21.74%	$0.00	180K	Feb 2, 2023	Class A Common Stock	50K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.
F2	The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 21, 2022.
F3	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.00 to $35.46, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
F4	Each restricted stock unit, or RSU, represents a contingent right to receive one share of Issuer Class A Common Stock.
F5	The shares underlying the option vested as to 25% of the total shares on February 27, 2020 and the remaining shares vest in 36 equal monthly installments thereafter.