Edward P. Lazarus - May 15, 2022 Form 4 Insider Report for Sonos Inc (SONO)

Role
Chief Legal Officer & Secty.
Signature
/s/ Robert Capilupi by power of attorney
Stock symbol
SONO
Transactions as of
May 15, 2022
Transactions value $
-$753,799
Form type
4
Date filed
5/17/2022, 05:52 PM
Previous filing
Feb 17, 2022
Next filing
Aug 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SONO Common Stock Options Exercise +71.4K +59.95% 191K May 15, 2022 Direct F1, F2
transaction SONO Common Stock Tax liability -$754K -33.3K -17.47% $22.64 157K May 15, 2022 Direct F3

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 SONO Restricted Stock Units Options Exercise $0 -1.75K -0.88% $0.00 197K May 15, 2022 Common Stock 1.75K Direct F1, F2, F4
transaction SONO Restricted Stock Units Options Exercise $0 -17.1K -8.66% $0.00 180K May 15, 2022 Common Stock 17.1K Direct F1, F2, F5
transaction SONO Restricted Stock Units Options Exercise $0 -52.6K -29.22% $0.00 127K May 15, 2022 Common Stock 52.6K Direct F1, F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
F2 Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon vesting and settlement for no consideration.
F3 Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were withheld by the Issuer in accordance with the agreement governing the RSUs to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of RSUs.
F4 These RSUs will vest on the following schedule: 6.25% of the shares subject to the RSU will vest quarterly in year 1 following the vesting commencement date of November 15, 2021; 12.5% of the shares subject to the RSU will vest quarterly in year 2; and 6.25% of the shares subject to the RSU will vest quarterly in year 3, in each case subject to the continuing employment of the Reporting Person on each vesting date. The RSUs are subject to double-trigger acceleration.
F5 1/16 of the shares subject to the RSUs vest in equal installments on each quarterly anniversary date following the applicable vesting commencement date, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. The RSUs are subject to double-trigger acceleration.
F6 The RSUs fully vested on May 15, 2022.