Suresh Krishnaswamy - Mar 13, 2023 Form 4 Insider Report for Leafly Holdings, Inc. /DE (LFLY)

Role
Chief Financial Officer
Signature
/s/ Yoko Miyashita, as Attorney-in-Fact
Stock symbol
LFLY
Transactions as of
Mar 13, 2023
Transactions value $
$0
Form type
4
Date filed
3/15/2023, 04:53 PM
Previous filing
Jan 25, 2023
Next filing
Mar 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LFLY Common Stock Award $0 +29.2K +15.55% $0.00 217K Mar 13, 2023 Direct F1
transaction LFLY Common Stock Award $0 +16.5K +7.59% $0.00 233K Mar 13, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") granted pursuant to Issuer's 2021 Equity Incentive Plan ("2021 Plan"), which vest as follows: 25% on March 15, 2023, 25% on April 7, 2023, 25% May 5, 2023, and 25% June 7, 2023.
F2 In 2022, the reporting person was granted a multi-year performance-based award under the 2021 Plan (the "2022 PSUs"), split into three tranches of 32,909 RSUs each ("Tranche I", "Tranche II", or "Tranche III"), with the number of shares eligible to vest in each tranche conditioned on achievement of specified top line revenue and adjusted EBITDA targets, with each goal weighted 50% and achievement determined independently of the other. On March 13, 2023, the Compensation Committee of the Issuer confirmed the level of achievement of the performance criteria for Tranche I, resulting in the vesting of 50% of the 2022 PSUs applicable to Tranche 1, as reported.
F3 Represents 68,937 shares of common stock and 164,459 unvested restricted stock units.