Mary Fox - 25 Feb 2022 Form 4 Insider Report for Lovesac Co (LOVE)

Role
President and COO
Signature
/s/ Megan C. Preneta, Attorney-in-Fact
Issuer symbol
LOVE
Transactions as of
25 Feb 2022
Net transactions value
$0
Form type
4
Filing time
01 Mar 2022, 18:34:29 UTC
Previous filing
15 Dec 2021
Next filing
21 Apr 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOVE Common Stock, $0.00001 par value Options Exercise $0 +1,168 +28% $0.000000 5,294 25 Feb 2022 Direct F1
transaction LOVE Common Stock, $0.00001 par value Tax liability $0 -621 -12% $0.000000 4,673 25 Feb 2022 Direct F2

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 LOVE Restricted Stock Units Options Exercise $0 -3,245 -100% $0.000000* 0 25 Feb 2022 Common Stock 3,245 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported shares were acquired upon the vesting of time-vesting restricted stock units ("RSUs") granted to the Reporting Person on February 25, 2020 in connection with her appointment to the Issuer's Board of Directors. In connection with the Reporting Person's resignation from the Board and appointment to the role of President and COO of the Issuer on November 15, 2021, the Board of Directors of the Issuer determined the Reporting Person would retain a pro-rated number of the reported RSUs and the remainder of the RSUs would be forfeited for no consideration.
F2 The reported shares were withheld to satisfy the Reporting Person's tax liability in connection with the settlement of the second tranche of RSUs granted on February 25, 2020 that vested on February 25, 2022. No shares were sold.
F3 Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
F4 The Reporting Person received a grant of 3,245 RSUs, of which 50% vested on February 25, 2021 and 50% were subject to vest on February 25, 2022. In connection with the Reporting Person's resignation from the Board and appointment to the role of President and COO of the Issuer on November 15, 2021, the Board of Directors of the Issuer determined the Reporting Person would retain a pro-rated number of the reported RSUs and the remainder of the RSUs would be forfeited for no consideration.