| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | VLDR | Common Stock | Options Exercise | +7.57K | +17.07% | 51.9K | Dec 8, 2021 | Direct | F1, F2 | ||
| transaction | VLDR | Common Stock | Sale | -$20.7K | -3.88K | -7.47% | $5.34 | 48K | Dec 9, 2021 | Direct | F3 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | VLDR | Restricted Stock Unit | Options Exercise | $0 | -2.75K | -16.66% | $0.00 | 13.8K | Dec 8, 2021 | Common Stock | 16.5K | Direct | F4, F5 | |
| transaction | VLDR | Restricted Stock Unit | Options Exercise | $0 | -4.81K | -7.14% | $0.00 | 62.6K | Dec 8, 2021 | Common Stock | 67.4K | Direct | F4, F6 |
| Id | Content |
|---|---|
| F1 | The Reporting Person was granted Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Common Stock for each RSU. The shares were issued pursuant to vested RSUs released on December 8, 2021. |
| F2 | This Form 4 is being updated to report one (1) share that was inadvertently omitted on the Reporting Person's Form 4 filed on May 28, 2021. |
| F3 | The sales reported on this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the previously reported vesting and settlement of RSUs. These sales are mandated by the Reporting Person's award agreement to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person. |
| F4 | The Reporting Person received RSUs were received in connection with the merger described in that certain Agreement and Plan of Merger, dated as of July 2, 2020 (the "Merger"), and amended on August 20, 2020, by and among Graf Industrial Corp., a Delaware corporation now known as Velodyne Lidar, Inc. ("New Velodyne"), VL Merger Sub Inc., a Delaware corporation, and Velodyne Lidar, Inc., a Delaware corporation now known as Velodyne Lidar USA, Inc., the Reporting Person received RSUs in New Velodyne in exchange for RSUs in Velodyne Lidar USA, Inc. |
| F5 | The RSUs were received in exchange for Fifteen Thousand (15,000) RSUs in Velodyne Lidar USA, Inc. in connection with the Merger. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the right to receive one (1) share of Common Stock. The liquidity-event requirement was deemed satisfied by the Board of Directors of New Velodyne in October 2020 and the service-based requirement will be or, as applicable, was satisfied with respect to twenty-five percent (25%) of the RSUs when the Reporting Person remains or, as applicable, remained in continuous service through the one-year anniversary of February 22, 2019 and with respect to six-and-one-quarter percent (6.25%) of the RSUs when the Reporting Person completes or, as applicable, completed each three (3) months of continuous service thereafter. |
| F6 | The Reporting Person was granted RSUs which represents a contingent right to receive one (1) share of Common Stock for each RSU. The RSU shall vest with respect to six-and-one-quarter percent (6.25%) of the RSUs on each company quarterly vesting dates after February 28, 2021, provided the Reporting Person remains in continuous service on each vesting date. Quarterly vesting dates are February 28, May 28, August 28 and November 28. |