Alex Rodrigues - Aug 2, 2023 Form 4 Insider Report for Embark Technology, Inc. (EMBK)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Siddhartha Venkatesan, attorney-in-fact
Stock symbol: EMBK
Transactions as of: Aug 2, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/4/2023, 05:40 PM
Previous filing: Nov 18, 2021

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	EMBK	Class B Common Stock	Disposed to Issuer	$0	-29.1M	-100%	$0.00^*	0	Aug 2, 2023	Class A Common Stock	29.1M		See footnote	F1, F2, F3, F4
transaction	EMBK	Restricted Stock Units	Disposed to Issuer	$0	-1.45M	-100%	$0.00^*	0	Aug 2, 2023	Class A Common Stock	1.45M		Direct	F2, F5, F6

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

Alex Rodrigues is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Shares of the Class B common stock may be converted into shares of Class A common stock, on a one-to-one basis, at the option of the holder at any time and have no expiration date.
F2	Reflects the amount of shares beneficially held following a 20-for-1 stock split effected by the Issuer on August 16, 2022, which was exempt from reporting pursuant to Rule 16a-9.
F3	Pursuant to an Agreement and Plan of Merger, dated as of May 25, 2023 (the "Merger Agreement"), by and among the Issuer, Applied Intuition, Inc., and Azara Merger Sub, Inc., at the effective time of the merger (the "Effective Time"), each share of Class B common stock was cancelled and automatically converted into the right to receive an amount equal to $2.88 in cash, without interest.
F4	The shares are held of record by the Alex Rodrigues Living Trust for which the reporting person serves as trustee.
F5	Each RSU represents a contingent right to receive one share of Class A common stock of the Issuer.
F6	The restricted stock units, or RSUs, will vest, if at all, in six equal tranches based on the Issuer's stock price exceeding certain thresholds. Pursuant to the Merger Agreement, at the Effective Time each outstanding RSU that was subject to performance-based vesting conditions was automatically cancelled for no consideration.