John Richard Grafer - Jun 2, 2022 Form 4 Insider Report for Lovesac Co (LOVE)

Role: Director, Affiliate of reporting person
Signature: /s/ John Richard Grafer
Stock symbol: LOVE
Transactions as of: Jun 2, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/6/2022, 08:54 PM
Previous filing: Dec 21, 2021
Next filing: Jun 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOVE	Common Stock, $0.00001 par value	Options Exercise		+1.25K	+0.27%		467K	Jun 2, 2022	See footnote	F1, F2

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	-1.25K	-100%	$0.00^*	0	Jun 2, 2022	Common Stock	1.25K		See Footnote	F3, F4, F6
transaction	LOVE	Restricted Stock Units	Award	$0	+2.41K		$0.00	2.41K	Jun 2, 2022	Common Stock	2.41K		See Footnote	F3, F5, F6

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

Explanation of Responses:

Id	Content
F1	The reported shares were acquired upon the vesting of time-based restricted stock units ("RSUs") granted on June 7, 2021. Each RSU converted into one share of the Issuer's common stock.
F2	Satori Capital Strategic Opportunities GP, LLC ("Satori CSOGP"), is the general partner of Satori Capital Strategic Opportunities, LP ("Satori CSO") and Satori Capital III GP, LLC ("SCIIIGP"), is the general partner of Satori Capital III, LP ("SCIII"). SCGPM, LLC ("SCGPM") is the manager of Satori CSOGP and SCIIIGP and may be deemed to share voting and dispositive power with respect to the shares held by Satori CSO and SCIII. SCGPM is wholly owned and controlled by Satori Capital, LLC ("Satori Capital"), which is indirectly owned and controlled by Sunny Vanderbeck and Randy Eisenman through entities that Sunny Vanderbeck or Randy Eisenman own or control. By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Grafer may be deemed to have beneficial ownership of certain of the securities that are beneficially owned by Satori CSO and SCIII. Mr. Grafer disclaims beneficial ownership of the securities owned by Satori CSO and SCIII, and the filing of this Form 4 shall not be deemed an admission that Mr. Grafer is the beneficial owner of the securities for purposes of Section 16 of the Exchange Act or for any other purpose.
F3	Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
F4	On June 7, 2021, the reporting person received a grant of 1,245 RSUs, which vested in full on the earlier of the first anniversary of the grant date or the date of the Issuer's annual meeting to be held in 2022.
F5	The reporting person received a grant of 2,408 RSUs, of which 100% will vest on June 2, 2023, subject to continued service.
F6	The RSUs were granted to Mr. Grafer, a partner at Satori Capital, in connection with his service as a member of the board of directors of the Issuer. Pursuant to the policies of Satori Capital, Mr. Grafer holds these RSUs as a nominee on behalf of, and for the sole benefit of, Satori Capital. Mr. Grafer disclaims beneficial ownership of the RSUs, and the filing of this Form 4 shall not be deemed an admission that Mr. Grafer is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Satori Capital is indirectly owned and controlled by Sunny Vanderbeck and Randy Eisenman through entities that Sunny Vanderbeck or Randy Eisenman own or control.