Albert Li - Aug 30, 2021 Form 4 Insider Report for Electric Last Mile Solutions, Inc. (ELMSQ)

Role
CFO
Signature
/s/ Benjamin Wu, attorney-in-fact for Albert Li
Stock symbol
ELMSQ
Transactions as of
Aug 30, 2021
Transactions value $
$0
Form type
4
Date filed
9/1/2021, 05:05 PM
Previous filing
Jun 29, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
holding ELMSQ Common Stock 88,071 Aug 30, 2021 by Li Management and Consulting LLC F1
holding ELMSQ Common Stock 22,017 Aug 30, 2021 by H and L Reunion Investments LLC F2

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 ELMSQ Employee Restricted Stock Unit +Grant/Award $0 +50,000 $0.00 50,000 Aug 30, 2021 Common Stock 50,000 Direct F3, F4
transaction ELMSQ Earnout Restricted Stock Unit +Grant/Award $0 +600,000 $0.00 60,000 Aug 30, 2021 Common Stock 600,000 Direct F3, F5

Explanation of Responses:

Id Content
F1 The reporting person is the sole member of Li Management and Consulting LLC, and as such has sole voting and investment power with respect to the common stock held by Li Management and Consulting LLC.
F2 The reporting person and Gary Heald have shared voting and investment power with respect to the common stock held by H and L Reunion Investments LLC. Accordingly, the reporting person and Mr. Heald may be deemed to have beneficial ownership of the common stock held by H and L Reunion Investments LLC.
F3 Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting.
F4 Restricted stock units will vest with respect to 33 1/3% on each of January 2, 2022, January 2, 2023 and January 2, 2024, subject to continued employment.
F5 50% of the restricted stock units will be deemed earned and vested if the closing price per share of common stock of the Issuer on any 20 trading days in any 30-consecutive day trading period equals or exceeds (i) $14.00 or (ii) $16.00, respectively, subject to continued employment.