Daniel J. Weinrot - Jun 17, 2022 Form 4 Insider Report for System1, Inc. (SST)

Role
General Counsel
Signature
/s/ Daniel J Weinrot
Stock symbol
SST
Transactions as of
Jun 17, 2022
Transactions value $
$0
Form type
4
Date filed
6/22/2022, 06:40 PM
Previous filing
May 12, 2022
Next filing
Aug 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SST Class A Common Stock Award $0 +32.4K +32.93% $0.00 131K Jun 17, 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Weinrot was granted 32,420 restricted stock units ("RSUs") in connection with the replacement of previously unvested Value Creation Units of the Issuer's predecessor entity (the "Original VCUs") outstanding as of the closing of the Issuer's business combination transaction (the "Replacement RSUs"), of which 9,947 of the Replacement RSUs were deemed vested as of the grant date. Each Replacement RSU represents the right to receive one (1) share of SST Class A Common Stock upon vesting. Subject to the continued employment of Mr. Weinrot through the applicable vesting dates, the Replacement RSUs vest in quarterly installments over the course of the Original VCU remaining vesting schedule(s).
F2 Includes 82,473 unvested RSUs.