Mark Hanchett - Sep 15, 2023 Form 4 Insider Report for Nxu, Inc. (NXU)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Apoorv Dwivedi, as attorney-in-fact
Stock symbol
NXU
Transactions as of
Sep 15, 2023
Transactions value $
$0
Form type
4
Date filed
9/19/2023, 09:38 PM
Previous filing
Sep 12, 2023
Next filing
Apr 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXU Class A Common Stock Award +224K +0.85% 26.5M Sep 15, 2023 Direct F1, F2
transaction NXU Class A Common Stock Award +417K +1.57% 26.9M Sep 15, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person is eligible to receive an aggregate of $1,450,000 of Restricted Stock Units, which vest monthly in equal installments over thirty-six months. The number of Restricted Stock Units granted each month will be calculated by dividing $40,277.78 by the closing share price on the first trading day immediately preceding the 15th day of each month for thirty one (31) months beginning June 30, 2023 and will be calculated by dividing $110,277 by the closing share price on the first trading day immediately preceding the 15th day of each month for the final five (5) months from January 31, 2026 to May 31, 2026. On September 15, 2023, the Reporting Person was granted 223,765 Restricted Stock Units, which will vest on September 30, 2023.
F2 Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Nxu, Inc.
F3 The Reporting Person is eligible to receive $75,000 of Restricted Stock Units each quarter. The number of Restricted Stock Units granted each quarter will be calculated by dividing $75,000 by the closing share price on the first trading day immediately preceding the 15th day of the last month of each quarter, and will vest on the last business day of such quarter. On September 15, 2023, the Reporting Person was granted 416,667 Restricted Stock Units, which vest on September 30, 2023.