Benjamin G. Wolff - Feb 23, 2024 Form 4 Insider Report for Sarcos Technology & Robotics Corp (STRC)

Role
PRESIDENT & CEO, Director
Signature
/s/ Benjamin G. Wolff
Stock symbol
STRC
Transactions as of
Feb 23, 2024
Transactions value $
$0
Form type
4
Date filed
2/27/2024, 04:45 PM
Previous filing
Jan 4, 2024
Next filing
May 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STRC Common Stock Award $0 +625K +102.66% $0.00 1.23M Feb 23, 2024 Direct F1
holding STRC Common Stock 383K Feb 23, 2024 See footnote F2
holding STRC Common Stock 904 Feb 23, 2024 By Sppouse

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 STRC Stock Option (right to buy) Disposed to Issuer $0 -171K -100% $0.00* 0 Feb 27, 2024 Common Stock 171K $52.74 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a restricted stock award ("RSA"). 100% of the RSA vests February 23, 2025, subject to continued service through such date.
F2 Represents shares held by Mare's Leg Capital, LLC ("MLC"). MLC is an entity wholly owned by Mr. Wolff and his spouse Julie Wolff.
F3 Vests and becomes exercisable as to 25% of the grant on the one-year anniversary of the closing of the Business Combination, and as to 1/36th of the remaining portion of the grant at the end of each month thereafter, provided that 100% immediately vests and becomes exercisable upon the earlier of (i) a termination of service for reason other than a voluntary termination by Mr. Wolff that is not for "good reason" or a termination by Sarcos for cause, in either case, on or within the twelve (12) month period following the consummation of a change of control or (ii) the death of Mr. Wolff.
F4 On February 27, 2024, Mr. Wolff voluntarily cancelled an option to purchase 170,974 shares of the Common Stock held by Mr. Wolff. Mr. Wolff voluntarily cancelled his outstanding options in order to make more shares and options available under the Issuer's 2021 Equity Incentive Plan for employee recruiting and retention purposes.