Jun Yan - May 15, 2023 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
CEO
Signature
/s/ Marianne Lewis, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
May 15, 2023
Transactions value $
-$147,833
Form type
4
Date filed
5/17/2023, 09:55 PM
Previous filing
Sep 29, 2022
Next filing
Aug 17, 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 +53.3K $0.00 53.3K May 15, 2023 Direct F1
transaction WISH Class A Common Stock Tax liability -$148K -18.4K -34.58% $8.02 34.9K May 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 -32.5K -50% $0.00 32.5K May 15, 2023 Class A Common Stock 32.5K $0.00 Direct F3, F4
transaction WISH Restricted Stock Unit Options Exercise $0 -20.8K -12.5% $0.00 146K May 15, 2023 Class A Common Stock 20.8K $0.00 Direct F3, F5
* 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 one share of Class A Common Stock for each RSU. This reported transaction represents the settlement of RSUs vested as of May 15, 2023.
F2 Represents the number of shares withheld by the Issuer to satisfy the tax withholding obligation in connection with the settlement of Restricted Stock Units ("RSUs").
F3 This reported transaction represents the settlement of RSUs vested as of May 15, 2023.
F4 Subject to the Reporting Person's continuous service, 50% of the RSUs will vest on May 15, 2023 and the remaining 50% will vest on November 15, 2023. 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 the procedures the Company may prescribe at its discretion).
F5 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).