Devang Shah - Feb 15, 2023 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
GC, Sec, Chief Admin Officer
Signature
/s/ Marianne Lewis, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
Feb 15, 2023
Transactions value $
-$196,610
Form type
4
Date filed
2/17/2023, 06:11 PM
Previous filing
Jan 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WISH Class A Common Stock Options Exercise $0 +410K +122.92% $0.00 744K Feb 15, 2023 Direct F1
transaction WISH Class A Common Stock Tax liability -$197K -208K -27.95% $0.95 536K Feb 15, 2023 Direct F2

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 -9.57K -100% $0.00* 0 Feb 15, 2023 Class A Common Stock 9.57K $0.00 Direct F3, F4
transaction WISH Restricted Stock Unit Options Exercise $0 -7.87K -33.33% $0.00 15.7K Feb 15, 2023 Class A Common Stock 7.87K $0.00 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -5.21K -5% $0.00 99K Feb 15, 2023 Class A Common Stock 5.21K $0.00 Direct F4, F6
transaction WISH Restricted Stock Unit Options Exercise $0 -14.7K -10% $0.00 133K Feb 15, 2023 Class A Common Stock 14.7K $0.00 Direct F4, F7
transaction WISH Restricted Stock Unit Options Exercise $0 -154K -11.11% $0.00 1.23M Feb 15, 2023 Class A Common Stock 154K $0.00 Direct F4, F8
transaction WISH Restricted Stock Unit Options Exercise $0 -219K -12.5% $0.00 1.53M Feb 15, 2023 Class A Common Stock 219K $0.00 Direct F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received restricted stock units ("RSUs") which represent a contingent right to receive on share of Issuer's Class A Common Stock for each RSU. This reported transaction represents the settlement of RSUs vested as of February 15, 2023.
F2 Represents the number of shares held by the Issuer to satisfy the tax withholding obligation in connection with the settlement of RSUs.
F3 Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. 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.
F4 This reported transaction represents the settlement of RSUs vested as of February 15, 2023.
F5 Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. 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.
F6 Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. Subject to the reporting person's continued employment, 1/48th of the RSUs vest on a monthly basis beginning on October 1, 2020 for a period of 4 years.
F7 Subject to the reporting person's continuous service, 6.25% of the RSUs will vest on a quarterly basis beginning on August 15, 2021 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). 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).
F8 Subject to the Reporting Person's continuous service, 1/12th of the RSUs will vest on a quarterly basis beginning on May 15, 2022 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). 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).
F9 Subject to the Reporting Person's continuous service, 1/8th of the RSUs will vest on a quarterly basis beginning on November 15, 2022 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). 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).