Maxime Bouvat-Merlin - May 15, 2023 Form 4 Insider Report for Sonos Inc (SONO)

Role: Chief Product Officer
Signature: /s/ Rebecca Schuster, by power of attorney
Stock symbol: SONO
Transactions as of: May 15, 2023
Transactions value $: -$163,272
Form type: 4
Date filed: 5/17/2023, 07:04 PM
Previous filing: May 12, 2023
Next filing: Aug 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SONO	Common Stock	Options Exercise		+13K	+48.68%		39.7K	May 15, 2023	Direct	F1, F2
transaction	SONO	Common Stock	Tax liability	-$69.9K	-4.5K	-11.33%	$15.53	35.2K	May 15, 2023	Direct	F3
transaction	SONO	Common Stock	Sale	-$93.4K	-6.06K	-17.2%	$15.41	29.2K	May 15, 2023	Direct	F4, F5

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	-5.27K	-5.34%	$0.00	93.5K	May 15, 2023	Common Stock	5.27K		Direct	F1, F2, F6
transaction	SONO	Restricted Stock Units	Options Exercise	$0	-3.18K	-3.41%	$0.00	90.3K	May 15, 2023	Common Stock	3.18K		Direct	F1, F2, F7
transaction	SONO	Restricted Stock Units	Options Exercise	$0	-4.56K	-5.05%	$0.00	85.7K	May 15, 2023	Common Stock	4.56K		Direct	F1, F2, F8
transaction	SONO	Restricted Stock Units	Award	$0	+24.5K	+28.57%	$0.00	110K	May 15, 2023	Common Stock	24.5K		Direct	F2, F9

* 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	The reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person, entered into prior to the effectiveness of the revised requirements of Rule 10b5-1(c).
F5	Represents the weighted average sales price per share. The shares sold at prices ranging from $15.27 to $15.62 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
F6	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.
F7	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.
F8	1/12 of the shares subject to the RSUs vest in equal installments on each quarterly anniversary date following the vesting commencement date of November 15, 2022, 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.
F9	1/12 of the shares subject to the RSUs vest in equal installments on each quarterly anniversary date following the vesting commencement date of May 15, 2023, 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.