Penny Herscher - 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, 06:14 PM
Previous filing: Feb 14, 2023
Next filing: Nov 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EMBK	Class A Common Stock	Disposed to Issuer		-26.8K	-100%		0	Aug 2, 2023	Direct	F1

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

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

Explanation of Responses:

Id	Content
F1	The shares are represented by previously reported RSUs. Pursuant to the Issuer's Non-Employee Director Compensation Policy, any unvested RSUs accelerated and vested in full immediately prior to the effective time of the merger (the "Effective Time") contemplated by the 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, each outstanding RSU was automatically cancelled and converted into the right to receive an amount equal to $2.88 in cash, subject to the terms set forth in the Merger Agreement.

Content

The shares are represented by previously reported RSUs. Pursuant to the Issuer's Non-Employee Director Compensation Policy, any unvested RSUs accelerated and vested in full immediately prior to the effective time of the merger (the "Effective Time") contemplated by the 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, each outstanding RSU was automatically cancelled and converted into the right to receive an amount equal to $2.88 in cash, subject to the terms set forth in the Merger Agreement.