Jonathan J. Ledecky - May 4, 2022 Form 4 Insider Report for XL Fleet Corp. (SPRU)

Role
Director
Signature
/s/ Stacey Constas
Stock symbol
SPRU
Transactions as of
May 4, 2022
Transactions value $
$0
Form type
4
Date filed
5/6/2022, 02:35 PM
Previous filing
Mar 23, 2022
Next filing
Jun 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPRU Common Stock Award $0 +96.8K +732.14% $0.00 110K May 4, 2022 Direct F1
holding SPRU Common Stock 5.5M May 4, 2022 By Pivotal Investment Holdings II LLC 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 issued pursuant to the issuer's 2020 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of issuer common stock. Subject to the reporting person's continued service through the vesting date, the restricted stock units shall become fully vested on the first anniversary of May 4, 2022.
F2 Includes 5,500,000 shares ("Sponsor Shares") owned directly by Pivotal Investment Holdings II LLC, a Delaware limited liability company and the sponsor of the Issuer (the "Sponsor"), of which Ironbound Partners Fund, LLC, an affiliate of Mr. Ledecky, is a managing member. Notwithstanding their dispositive and voting control over such Sponsor Shares, each of Mr. Ledecky and Ironbound Partners Fund, LLC disclaim beneficial ownership of the securities held by the Sponsor, except to the extent of his or its pecuniary interest therein.