Michael T. Pugh - Feb 28, 2023 Form 4 Insider Report for Elevate Credit, Inc. (ELVT)

Role
Director
Signature
/s/ Nelda Bruce, as attorney-in-fact
Stock symbol
ELVT
Transactions as of
Feb 28, 2023
Transactions value $
-$54,361
Form type
4
Date filed
3/2/2023, 04:41 PM
Previous filing
Sep 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ELVT Common Stock Disposed to Issuer -$54.4K -29.1K -100% $1.87 0 Feb 28, 2023 Direct F1

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 ELVT Restricted Stock Unit (RSU) Disposed to Issuer -58.1K -100% 0 Feb 28, 2023 Common Stock 58.1K Direct F2
transaction ELVT Restricted Stock Unit (RSU) Disposed to Issuer -47.2K -100% 0 Feb 28, 2023 Common Stock 47.2K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael T. Pugh is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated as of November 16, 2022 (the "Merger Agreement"), by and among Elevate Credit, Inc., (the "Company"), PCAM Acquisition Corp ("Parent") and PCAM Merger Sub Corp ("Merger Sub"), the Merger Sub merged with and into the Company ("the Merger") with the Company surviving the Merger as a wholly owned subsidiary of Parent. Pursuant to the Merger Agreement, at the effective time of the Merger, each share of the Company's Common Stock, par value $0.0004 per share, was cancelled and converted into the right to receive $1.87 in cash.
F2 Pursuant to the Merger Agreement, each restricted stock unit award ("RSU") granted by the Company that is outstanding immediately prior to the effective time of the Merger (whether or not vested) will immediately vest in full and become free of restrictions, and will be cancelled and converted automatically into the right to receive a cash payment equal to the product of (1) the number of shares of Company Common Stock subject to such RSU as of the effective time of the Merger, multiplied by (2) the Merger Consideration. The reporting person was granted 87,209 RSUs on September 15, 2021, vesting in three annual installments, beginning on the first anniversary of the grant date and converting into common stock on a one-for-one basis.
F3 Pursuant to the Merger Agreement, each RSU granted by the Company that is outstanding immediately prior to the effective time of the Merger (whether or not vested) will immediately vest in full and become free of restrictions, and will be cancelled and converted automatically into the right to receive a cash payment equal to the product of (1) the number of shares of Company Common Stock subject to such RSU as of the effective time of the Merger, multiplied by (2) the Merger Consideration. The reporting person was granted 47,210 RSUs on May15,2022, vesting annually on the grant date and converting into common stock on a one-for-one basis.