Lev Peker - 19 May 2023 Form 4 Insider Report for PARTS iD, Inc.

Role
Chief Executive Officer, Director
Signature
/s/ Lev Peker
Issuer symbol
N/A
Transactions as of
19 May 2023
Net transactions value
+$750,000
Form type
4
Filing time
23 May 2023, 16:30:07 UTC
Previous filing
28 Apr 2023
Next filing
26 Jul 2023
SEC
View on sec.gov

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 +1,562,500 1,562,500 19 May 2023 Class A Common Stock 1,562,500 $0.4800 Direct F1
transaction ID Convertible Notes Award $750,000 $750,000 19 May 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. Peker and which are evidenced by a convertible promissory note (the "Convertible Note").
F2 The Convertible Note accrues 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. The Convertible Note matures on May 19, 2025 (the "Maturity Date"). Effective on the Maturity Date, if the Convertible Notes has not otherwise been repaid by the Company in accordance with the terms and conditions set forth therein, then at the option of the Reporting Person, the outstanding balance of the Convertible Note (including any accrued but unpaid interest thereon) (the "Note Amount") shall convert into that number of fully paid and nonassessable shares of the Company's Class A common stock at a conversion price equal to the respective Note Amount (as defined in the Convertible Note) divided by the Conversion Price (as defined in the Convertible Note).