Tobias Russell - May 27, 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role
Co-Chief Executive Officer and President, Director
Signature
/s/ Jennifer Gaines, attorney-in-fact for Tobias Russell
Stock symbol
SFT
Transactions as of
May 27, 2021
Transactions value $
$70,800
Form type
4
Date filed
6/1/2021, 04:18 PM
Next filing
Oct 15, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Purchase $70.8K +10K +0.33% $7.08 3.06M May 27, 2021 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 109,944 shares held in escrow ("Additional Shares"). If the reported closing sale price of the Company's common stock does not exceed $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020, then 50% of the Additional Shares will be returned to the Company (and either placed into treasury or retired, in the discretion of the Company). If such threshold is reached, such Additional Shares will be released from escrow. If the reported closing sale price of our common stock does not exceed $15.00 per share for 20 out of any 30 consecutive trading days during the first 30 months following October 13, 2020, then 50% of the Additional Shares will be returned to the Company (and either placed into treasury or retired, in the discretion of the Company). If such threshold is reached, such Additional Shares will be released from escrow.

Remarks:

Co-Chief Executive Officer and President