Albert Jack Krause - Jun 5, 2021 Form 4 Insider Report for Lovesac Co (LOVE)

Role
President and COO
Signature
/s/ Megan C. Preneta, Attorney-in-Fact
Stock symbol
LOVE
Transactions as of
Jun 5, 2021
Transactions value $
-$815,633
Form type
4
Date filed
6/8/2021, 08:48 PM
Next filing
Jul 15, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOVE Common Stock, $0.00001 par value Tax liability -$111K -1.33K -1% $83.16 131K Jun 5, 2021 Direct F1
transaction LOVE Common Stock, $0.00001 par value Tax liability -$297K -3.57K -2.72% $83.16 128K Jun 5, 2021 Direct F2
transaction LOVE Common Stock, $0.00001 par value Award $0 +2.67K +2.09% $0.00 131K Jun 5, 2021 Direct F3
transaction LOVE Common Stock, $0.00001 par value Tax liability -$111K -1.33K -1.02% $83.16 129K Jun 5, 2021 Direct F4
transaction LOVE Common Stock, $0.00001 par value Award $0 +7.14K +5.53% $0.00 136K Jun 5, 2021 Direct F5
transaction LOVE Common Stock, $0.00001 par value Tax liability -$297K -3.57K -2.62% $83.16 133K Jun 5, 2021 Direct F6

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 LOVE Restricted Stock Units Options Exercise $0 -2.67K -49.99% $0.00 2.67K Jun 5, 2021 Common Stock 2.67K Direct F3, F7
transaction LOVE Restricted Stock Units Options Exercise $0 -7.14K -33.33% $0.00 14.3K Jun 5, 2021 Common Stock 7.14K Direct F5, F7
transaction LOVE Restricted Stock Units Award $0 +4.37K $0.00 4.37K Jun 7, 2021 Common Stock 4.37K Direct F7, F8
transaction LOVE Restricted Stock Units (Performance-based Vesting) Award $0 +4.37K +100.02% $0.00 8.75K Jun 7, 2021 Common Stock 4.37K Direct F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported shares were withheld to satisfy the Reporting Person's tax liability in connection with the settlement of the second tranche of performance based restricted stock units ("RSUs") granted on June 5, 2019 that vested on April 19, 2021. No shares were sold.
F2 The reported shares were shares withheld to satisfy the Reporting Person's tax liability in connection with the settlement of the first tranche of performance based RSUs granted on June 5, 2020 that vested on April 19, 2021. No shares were sold.
F3 The reported shares were acquired upon the vesting of the second tranche of time-based RSUs granted on June 5, 2019.
F4 The reported shares were withheld to satisfy the Reporting Person's tax liability in connection with the vesting of the second tranche of time-based RSUs granted on June 5, 2019. No shares were sold.
F5 The reported shares were acquired upon the vesting of the first tranche of time-based RSUs granted on June 5, 2020.
F6 The reported shares were withheld to satisfy the Reporting Person's tax liability in connection with the vesting of the first tranche of time-based RSUs granted on June 5, 2020. No shares were sold.
F7 Each RSU represents the contingent right to receive one share of the Issuer's Common Stock.
F8 On June 7, 2021, the Reporting Person received a grant of 8,745 RSUs, of which (a) 50% vest in three equal installments on the first, second and third anniversaries of the grant date, and (b) 50% vest in three tranches with each tranche eligible to vest based on the Issuer's achievements of certain financial performance targets for the applicable performance period.