Gregory B. Moran - Dec 28, 2023 Form 4 Insider Report for Zoomcar Holdings, Inc. (ZCAR)

Role: President and CEO, Director
Signature: /s/ Gregory B. Moran
Stock symbol: ZCAR
Transactions as of: Dec 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/10/2024, 01:44 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZCAR	Common Stock	Award		+122K			122K	Dec 28, 2023	Direct	F1
transaction	ZCAR	Common Stock	Award		+89K	+73.19%		210K	Dec 29, 2023	Direct	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	ZCAR	Options to purchase Common Stock	Award		+17K			17K	Dec 28, 2023	Common Stock	17K	$5.28	Direct	F3

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

Explanation of Responses:

Id	Content
F1	These shares were initially issued by Zoomcar, Inc. ("Zoomcar") and were exchanged for shares of common stock issued by Zoomcar Holdings, Inc. (the "Issuer") on December 28, 2023, upon the consummation by the Issuer of its initial business combination (the "Business Combination") with Zoomcar pursuant to that certain agreement and plan of merger, dated as of October 13, 2022, by and among Zoomcar, the Issuer and the other parties thereto (the "Merger Agreement").
F2	These shares were issued as a result of the first amendment to the Merger Agreement, entered into by Zoomcar and the Issuer, among other parties on December 29, 2023, resulting in the issuance of the earnout shares contemplated by the Merger Agreement.
F3	These options were initially issued by Zoomcar and were exchanged for options issued by the Issuer on December 28, 2023, upon the consummation of the Business Combination. The options are fully vested and expire on January 20, 2025.