Kevork Tro Adjemian - Aug 30, 2021 Form 4 Insider Report for Electric Last Mile Solutions, Inc. (ELMSQ)

Role
Chief Technical Officer
Signature
/s/ Benjamin Wu, attorney-in-fact for Kevork Tro Adjemian
Stock symbol
ELMSQ
Transactions as of
Aug 30, 2021
Transactions value $
$0
Form type
4
Date filed
9/1/2021, 05:11 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 55,044 Aug 30, 2021 by KA Trust 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 ELMSQ Employee Restricted Stock Unit +Grant/Award $0 +37,500 $0.00 37,500 Aug 30, 2021 Common Stock 37,500 Direct F2, F3
transaction ELMSQ Earnout Restricted Stock Unit +Grant/Award $0 +40,000 $0.00 40,000 Aug 30, 2021 Common Stock 40,000 Direct F2, F4

Explanation of Responses:

Id Content
F1 The reporting person has sole voting and investment power with respect to the shares of common stock held by the KA Trust.
F2 Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting.
F3 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.
F4 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.