Albert Jack Krause - 15 Apr 2022 Form 4 Insider Report for Lovesac Co (LOVE)

Role
Chief Strategy Officer, Director
Signature
/s/ Megan C. Preneta, Attorney-in-Fact
Issuer symbol
LOVE
Transactions as of
15 Apr 2022
Net transactions value
$0
Form type
4
Filing time
21 Apr 2022, 16:06:08 UTC
Previous filing
28 Mar 2022
Next filing
07 Jun 2022
SEC
View on sec.gov

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 Award $0 +8,316 $0.000000 8,316 15 Apr 2022 Common Stock 8,316 $0.000000 Direct F1, F2
transaction LOVE Restricted Stock Units (Performance-based Vesting) Award $0 +8,316 +100% $0.000000 16,632 15 Apr 2022 Common Stock 8,316 Direct F1, F2
transaction LOVE Restricted Stock Units (Performance-based Vesting) Award $0 +16,000 $0.000000 16,000 15 Apr 2022 Common Stock 16,000 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 ("RSU") represents the contingent right to receive one share of the Issuer's Common Stock.
F2 On April 15, 2022, the Reporting Person received a grant of 16,632 RSUs, of which (a) 50% vest in three equal installments on the first, second and third anniversaries of the grant date, and (b) 50% vest in three tranches with each tranche eligible to vest based on the Issuer's achievements of certain financial performance targets for the applicable performance period.
F3 On April 15, 2022, the Reporting Person received a grant of 16,000 RSUs which vest in a single tranche based on the Issuer's achievements of certain stretch financial performance targets for the performance period.