Kaijiro Sato - Feb 25, 2021 Form 3 Insider Report for Crown Electrokinetics Corp. (CRKN)

Role
Co-President and CMO
Signature
/s/ Kaijiro Sato
Stock symbol
CRKN
Transactions as of
Feb 25, 2021
Transactions value $
$0
Form type
3
Date filed
12/17/2021, 11:14 AM

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
holding CRKN Restricted Stock Unit Feb 25, 2021 Common Stock 400K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 3 amendment is being filed to correct the Reporting Person's original Form 3 filed on February 26, 2021. The original Form 3 erroneously disclosed a grant of 400,000 shares of restricted stock by the Issuer in connection with the Reporting Person's appointment as the Issuer's Co-President and Chief Marketing Officer; this disclosed grant was never formalized. The disclosed grant of 400,000 shares of restricted stock units was made by the Issuer in satisfaction of the Reporting Person's entitlement to an equity award grant in connection with his appointment as Co-President and Chief Marketing Officer.
F2 Granted pursuant to the Issuer's 2020 Employee Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
F3 77,778 of the restricted stock unit vested on September 29, 2021. Subject to the Reporting Person remaining in continuous service with the Issuer through each applicable vesting date, 11,111 of the restricted stock units will vest monthly for a period of 28 months beginning October 25, 2021, with the remaining 11,114 restricted stock units will vesting on February 25, 2024. In the event of a change in control of the Issuer, all then-unvested restricted stock units will vest as of the date of such change in control; if the Reporting Person terminates service with the Issuer as a result of his death, disability or a termination by the Issuer without cause, 100% of the unvested restricted stock units will vest as of the date of such termination. Share of unrestricted Common Stock of the Issuer will be issued with respect to vested restricted stock units on the earliest to occur of (1) March 10, 2026; (2) the Reporting Person's separation from service; (3) a change in control; or (4) the Reporting Person's death.
F4 Not applicable.