Padraic L. Spence - 22 Feb 2023 Form 4 Insider Report for Zevia PBC (ZVIA)

Role
Director
Signature
/s/ Lorna R. Simms, Attorney-in-Fact for Padraic L. Spence
Issuer symbol
ZVIA
Transactions as of
22 Feb 2023
Net transactions value
-$440,431
Form type
4
Filing time
24 Feb 2023, 19:34:09 UTC
Previous filing
20 Jan 2023
Next filing
30 Mar 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ZVIA Class A Common Stock Sale $95,233 -21,767 -0.97% $4.38 2,217,199 22 Feb 2023 Direct F1, F2
transaction ZVIA Class A Common Stock Sale $210,507 -49,139 -2.2% $4.28 2,168,060 23 Feb 2023 Direct F3, F4
transaction ZVIA Class A Common Stock Sale $134,692 -34,224 -1.6% $3.94 2,133,836 24 Feb 2023 Direct F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 61,112 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.
F2 The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $4.28 to $4.47, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 133,333 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.
F4 The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $4.14 to $4.54, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 66,667 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.
F6 The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $3.78 to $4.17, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 Includes 1,553,961 RSUs. Each RSU represents the right to receive one share of Class A Common Stock of the Issuer. 2,200,000 RSUs began vesting in 1/36 equal monthly installments on each monthly anniversary of January 17, 2022 and are settled within 30 days following each vesting date. 148,417 RSUs begin vesting in 1/4 increments on each anniversary of March 17, 2022 and are settled within 30 days following each vesting date.