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

Role: Director
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, 06:11 PM
Previous filing: Aug 10, 2022
Next filing: Jun 27, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EMBK	Class A Common Stock	Disposed to Issuer		-10.8K	-100%		0	Aug 2, 2023	Direct	F1

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

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

Explanation of Responses:

Id	Content
F1	Of the reported shares, 493 are represented by restricted stock units, or RSUs, of which 401 are vested. 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, each share of Class A common stock was cancelled and automatically converted into the right to receive an amount equal to $2.88 in cash, without interest (the "Per Share Price") and each outstanding RSU was automatically cancelled and converted into the right to receive the Per Share Price, subject to the terms set forth in the Merger Agreement. The remaining 475 unvested RSUs were cancelled.

Content

Of the reported shares, 493 are represented by restricted stock units, or RSUs, of which 401 are vested. 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, each share of Class A common stock was cancelled and automatically converted into the right to receive an amount equal to $2.88 in cash, without interest (the "Per Share Price") and each outstanding RSU was automatically cancelled and converted into the right to receive the Per Share Price, subject to the terms set forth in the Merger Agreement. The remaining 475 unvested RSUs were cancelled.