Apoorv Dwivedi - Oct 15, 2023 Form 4 Insider Report for Nxu, Inc. (NXU)

Role: Chief Financial Officer
Signature: /s/ Apoorv Dwivedi
Stock symbol: NXU
Transactions as of: Oct 15, 2023
Transactions value $: -$31,456
Form type: 4
Date filed: 10/18/2023, 05:20 PM
Previous filing: Sep 19, 2023
Next filing: Jan 19, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXU	Class A Common Stock	Tax liability	-$31.5K	-242K	-27.81%	$0.13	628K	Sep 30, 2023	Direct
transaction	NXU	Class A Common Stock	Award		+91.6K	+14.58%		720K	Oct 15, 2023	Direct	F1, F2

* 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 $300,000 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 $8,333.33 by the closing share price on the first trading day immediately preceding the 15th day of each month for thirty-six months from June 30, 2023 to May 31, 2026, and will vest on the last business day of such month. On October 15, 2023, the Reporting Person was granted 91,575 Restricted Stock Units, which vest on October 31, 2023.
F2	Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Nxu, Inc.

Content

The Reporting Person is eligible to receive an aggregate of $300,000 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 $8,333.33 by the closing share price on the first trading day immediately preceding the 15th day of each month for thirty-six months from June 30, 2023 to May 31, 2026, and will vest on the last business day of such month. On October 15, 2023, the Reporting Person was granted 91,575 Restricted Stock Units, which vest on October 31, 2023.

Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Nxu, Inc.