Mark Torossian - Aug 25, 2023 Form 4 Insider Report for MONEYLION INC. (ML)

Signature
/s/ Adam VanWagner, as Attorney-in-Fact for Mark Torossian
Stock symbol
ML
Transactions as of
Aug 25, 2023
Transactions value $
$0
Form type
4
Date filed
8/29/2023, 05:17 PM
Previous filing
Aug 17, 2023
Next filing
Nov 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ML Class A Common Stock Award $0 +15K +134.16% $0.00 26.2K Aug 25, 2023 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents performance share units ("PSUs") that were granted to the Reporting Person by the Compensation Committee (the "Committee") of the Board of Directors of MoneyLion Inc. (the "Company"), each of which represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), of the Company. Subject to the Reporting Person's continued service with the Company or one of its subsidiaries through the applicable vesting date, the PSUs will vest based on both the passage of time and the achievement of certain share price performance conditions (the "Share Price Performance Conditions") at any time within the three years following the grant date.
F2 With respect to the time-based vesting criteria, the PSUs become eligible to vest upon the achievement of the Share Price Performance Conditions on a quarterly basis in equal installments over three years on the 15th day of each February, May, August and November beginning on November 15, 2023. Upon the occurrence of a "Change in Control" (as defined in the Company's Amended and Restated Omnibus Incentive Plan), the time-based vesting condition shall be determined to have been met, and the share price-based performance conditions will be determined in accordance with the share price on the closing date of such Change in Control.
F3 Includes RSUs, each of which represents a contingent right to receive one share of Class A Common Stock and the acquisition of which was previously reported in Table I of the Reporting Person's prior Forms 3 and 4.

Remarks:

On April 24, 2023, the Company effected a reverse stock split (the "Reverse Stock Split") of the Class A Common Stock pursuant to which every 30 shares of Class A Common Stock were automatically reclassified into one new share of Class A Common Stock. Proportionate adjustments were made to the Company's outstanding equity awards as well as the exercise, grant and acquisition prices of such equity awards, as applicable. Accordingly, all amounts of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split.