Eric M. Tech - Dec 1, 2021 Form 4 Insider Report for XL Fleet Corp. (SPRU)

Role: CEO, Director
Signature: /s/ Eric Tech by James Berklas, Attorney-in-Fact
Stock symbol: SPRU
Transactions as of: Dec 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/2/2021, 05:29 PM
Next filing: May 12, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPRU	Common Stock	Award	$0	+132K		$0.00	132K	Dec 1, 2021	Direct	F1

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	SPRU	Stock Option (right to buy)	Award	$0	+422K		$0.00	422K	Dec 1, 2021	Common Stock	422K	$4.09	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The securities awarded are in the form of restricted stock units (RSUs) that each represent a contingent right to receive one share of the issuer's common stock. Subject to the reporting person's continued service through the vesting dates, 25% of these RSUs will vest on the first anniversary of the grant date, and the remaining 75% of the RSUs will vest in substantially equal quarterly installments over the next three years following such first anniversary.
F2	Subject to the reporting person's continued service through the vesting dates, 25% of these options will vest on the first anniversary of the grant date, and the remaining 75% of these options will vest in substantially equal monthly installments over the next three years following such first anniversary.

Content

The securities awarded are in the form of restricted stock units (RSUs) that each represent a contingent right to receive one share of the issuer's common stock. Subject to the reporting person's continued service through the vesting dates, 25% of these RSUs will vest on the first anniversary of the grant date, and the remaining 75% of the RSUs will vest in substantially equal quarterly installments over the next three years following such first anniversary.

Subject to the reporting person's continued service through the vesting dates, 25% of these options will vest on the first anniversary of the grant date, and the remaining 75% of these options will vest in substantially equal monthly installments over the next three years following such first anniversary.