Jamie Colbourne - 27 May 2022 Form 4 Insider Report for JONES SODA CO (JSDA)

Role: Director
Signature: /s/ Joe Culp, Attorney-In-Fact For Jamie Colbourne
Issuer symbol: JSDA
Transactions as of: 27 May 2022
Net transactions value: $0
Form type: 4
Filing time: 02 Jun 2022, 15:34:16 UTC
Previous filing: 19 May 2022
Next filing: 17 Aug 2022
SEC: View on sec.gov

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	JSDA	Restricted Stock Units	Award	$0	+660,000	+314%	$0.000000	870,000	27 May 2022	Common Stock	660,000		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one (1) share of the issuer's common stock on the applicable vesting date.
F2	The RSUs vest into shares of the issuer's common stock on a one-for-one basis in accordance with the following vesting schedule: 180,000 on August 15, 2022, 40,000 RSUs on February 15, 2023, 180,000 May 15, 2023, 40,000 RSUs on February 15, 2024, 180,000, on August 15, 2024 and the remaining 40,000 RSUs on February 15, 2025. All RSUs will immediately vest upon the occurrence of a "Change in Control" as defined in the issuer's 2022 Omnibus Equity Incentive Plan.

Content

Each restricted stock unit ("RSU") represents a contingent right to receive one (1) share of the issuer's common stock on the applicable vesting date.

The RSUs vest into shares of the issuer's common stock on a one-for-one basis in accordance with the following vesting schedule: 180,000 on August 15, 2022, 40,000 RSUs on February 15, 2023, 180,000 May 15, 2023, 40,000 RSUs on February 15, 2024, 180,000, on August 15, 2024 and the remaining 40,000 RSUs on February 15, 2025. All RSUs will immediately vest upon the occurrence of a "Change in Control" as defined in the issuer's 2022 Omnibus Equity Incentive Plan.