Edward T. Hightower - Nov 9, 2022 Form 4 Insider Report for Lordstown Motors Corp. (RIDE)

Role
CEO & PRESIDENT, Director
Signature
/s/ Melissa A. Leonard, Attorney-in-Fact
Stock symbol
RIDE
Transactions as of
Nov 9, 2022
Transactions value $
-$118,447
Form type
4
Date filed
11/14/2022, 04:36 PM
Previous filing
Aug 29, 2022
Next filing
Mar 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIDE Class A Common Stock Options Exercise +167K +1666.66% 177K Nov 9, 2022 Direct F1
transaction RIDE Class A Common Stock Tax liability -$118K -72.7K -41.13% $1.63 104K Nov 9, 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 -167K -33.33% $0.00 333K Nov 9, 2022 Class A Common Stock 167K $0.00 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 November 9, 2022. This does not represent a sale by the Reporting Person.
F3 The initial award amount of 500,000 RSUs vests in three equal annual installments beginning on November 9, 2022, subject to the Reporting Person's continued employment through each vesting date.