Yao (Rob) Song - Aug 30, 2021 Form 4 Insider Report for Electric Last Mile Solutions, Inc. (ELMSQ)

Role
Treasurer, PAO and Controller
Signature
/s/ Benjamin Wu, attorney-in-fact for Yao (Rob) Song
Stock symbol
ELMSQ
Transactions as of
Aug 30, 2021
Transactions value $
$0
Form type
4
Date filed
9/1/2021, 05:13 PM
Previous filing
Aug 17, 2021

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 +250,000 $0.00 250,000 Aug 30, 2021 Common Stock 250,000 Direct F1, F2
transaction ELMSQ Earnout Restricted Stock Unit +Grant/Award $0 +300,000 $0.00 300,000 Aug 30, 2021 Common Stock 300,000 Direct F1, F3

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting.
F2 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.
F3 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.