DANIEL A. NINIVAGGI - 26 Aug 2022 Form 4 Insider Report for Lordstown Motors Corp. (RIDE)

Role
EXECUTIVE CHAIRMAN, Director
Signature
/s/ Melissa A. Leonard, Attorney-in-Fact
Issuer symbol
RIDE
Transactions as of
26 Aug 2022
Net transactions value
-$209,572
Form type
4
Filing time
29 Aug 2022, 19:35:25 UTC
Previous filing
16 Aug 2022
Next filing
26 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIDE Class A Common Stock Options Exercise +233,333 +1167% 253,333 26 Aug 2022 Direct F1
transaction RIDE Class A Common Stock Tax liability $209,572 -101,734 -40% $2.06 151,599 26 Aug 2022 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 RIDE Restricted Stock Units Options Exercise $0 -233,333 -33% $0.000000 466,667 26 Aug 2022 Class A Common Stock 233,333 $0.000000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") convert into Class A Common Stock on a one-for-one basis.
F2 Represents shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligation upon the settlement of previously reported restricted stock units, which vested on August 26, 2022. This does not represent a sale by the Reporting Person.
F3 The initial award amount of 700,000 RSUs vests in three equal annual installments beginning on August 26, 2022, subject to the Reporting Person's continued employment through each vesting date.