Edwin Rigaud - Mar 6, 2023 Form 4 Insider Report for PARTS iD, Inc. (ID)

Role: Director
Signature: /s/ Edwin Rigaud
Stock symbol: ID
Transactions as of: Mar 6, 2023
Transactions value $: $400,000
Form type: 4
Date filed: 3/7/2023, 04:00 PM
Previous filing: Sep 30, 2022
Next filing: Jul 26, 2023

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	ID	Warrant (Right to Purchase)	Award		+80K			80K	Mar 6, 2023	Class A Common Stock	80K	$0.50	Direct	F1
transaction	ID	Convertible Notes	Award	$400K				$400K	Mar 6, 2023	Class A Common Stock			Direct	F2

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

Explanation of Responses:

Id	Content
F1	The warrants were received in consideration for the loans forwarded by Mr. Rigaud and which are evidenced by the convertible promissory notes (the "Convertible Notes").
F2	The Convertible Notes accrue interest at 7.75% per annum, compounded semi-annually and such interest may be paid at the option of PARTS iD, Inc. (the "Company") either in cash or common stock. Upon the Company's sale and issuance of equity or equity-linked securities pursuant to which the Company receives aggregate gross proceeds of at least $3 million (a "Qualified Equity Financing"), the Convertible Notes are mandatorily convertible into shares of such equity securities sold in the Qualified Equity Financing. The Company may, at its option, redeem the Convertible Notes for cash, in full or in part, if the Convertible Notes have not otherwise been converted within 180 days of the date of issuance. In addition, upon a Change of Control (as defined in the Convertible Notes) of the Company, the Convertible Notes shall be repaid in full at or before the closing of such transaction in cash. The Convertible Notes mature on March 6, 2025.

Content

The warrants were received in consideration for the loans forwarded by Mr. Rigaud and which are evidenced by the convertible promissory notes (the "Convertible Notes").

The Convertible Notes accrue interest at 7.75% per annum, compounded semi-annually and such interest may be paid at the option of PARTS iD, Inc. (the "Company") either in cash or common stock. Upon the Company's sale and issuance of equity or equity-linked securities pursuant to which the Company receives aggregate gross proceeds of at least $3 million (a "Qualified Equity Financing"), the Convertible Notes are mandatorily convertible into shares of such equity securities sold in the Qualified Equity Financing. The Company may, at its option, redeem the Convertible Notes for cash, in full or in part, if the Convertible Notes have not otherwise been converted within 180 days of the date of issuance. In addition, upon a Change of Control (as defined in the Convertible Notes) of the Company, the Convertible Notes shall be repaid in full at or before the closing of such transaction in cash. The Convertible Notes mature on March 6, 2025.