Thomas M. Dono JR - Nov 1, 2021 Form 4 Insider Report for Electric Last Mile Solutions, Inc. (ELMSQ)

Role
Ch. Legal Officer & Corp. Sec.
Signature
/s/ Thomas M. Dono, Jr.
Stock symbol
ELMSQ
Transactions as of
Nov 1, 2021
Transactions value $
$0
Form type
4
Date filed
11/2/2021, 03:39 PM

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 Award $0 +100K $0.00 100K Nov 1, 2021 Common Stock 100K Direct F1, F2
transaction ELMSQ Earnout Restricted Stock Unit Award $0 +100K $0.00 100K Nov 1, 2021 Common Stock 100K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.