Matthias Aydt - Jul 21, 2021 Form 4/A - Amendment Insider Report for FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFIE)

Role
Sr. VP, Bus. Dev. & Prod. Def., Director
Signature
/s/ Matthias Aydt
Stock symbol
FFIE
Transactions as of
Jul 21, 2021
Transactions value $
$0
Form type
4/A - Amendment
Date filed
3/21/2023, 09:12 PM
Date Of Original Report
Jul 23, 2021
Next filing
Feb 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FFIE Class A Common Stock Award +35.6K 35.6K Jul 21, 2021 Direct F1
transaction FFIE Class A Common Stock Award $0 +20.3K +57.18% $0.00 55.9K Jul 21, 2021 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 FFIE Earnout Shares Award +4.35K 4.35K Jul 21, 2021 Class A Common Stock 4.35K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1.Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. (the "Issuer"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), each outstanding share of FF common stock held by the Reporting Person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"). On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer was renamed "Faraday Future Intelligent Electric Inc."
F2 These shares of restricted stock were granted to the Reporting Person upon Closing and vested 90 days after Closing.
F3 Pursuant to the terms of the Merger Agreement, the Reporting Person, as an FF shareholder, received these Earnout Shares, each one of which represents the contingent right to acquire one share of the Issuer's Class A common stock if the trading price of the Issuer's Class A common stock reaches certain thresholds. Specifically, the Earnout Shares vest in equal halves if the trading price of Class A common stock is greater than or equal to $13.50 and $15.50, respectively, for any 20 trading days within any 30-trading day period. The Reporting Person's right to receive the Earnout Shares became fixed and irrevocable at Closing. Any Earnout Shares that have not vested by the fifth anniversary of the Closing will be forfeited.

Remarks:

This Form 4 amendment is being filed to correct and separately identify (i) the number of shares of Class A common stock the Reporting Person received as consideration under the Merger Agreement upon Closing (the "Merger Consideration Shares"), (ii) the number of restricted shares of Class A common stock the Reporting Person received as an equity grant at Closing (the "Equity Grant Shares"), which had previously been inadvertently aggregated with the Merger Consideration Shares and reported in a single row in Table I of the Form 4 filed on July 23, 2021, and (iii) the number of Earnout Shares the Reporting Person received under the terms of the Merger Agreement at Closing, which had previously been underreported and included in the single row in Table I of the Form 4 filed on July 23, 2021, but is now being reported in Table II. The Equity Grant Shares were also inadvertently re-reported in the Form 4 filed by the Reporting Person on March 8, 2022, and so this Form 4 amendment shall also be deemed to amend and override that Form 4. The adjustments in this Form 4 amendment also impact the Reporting Person's beneficial ownership of Class A common stock as reported in Table I on subsequent Forms 4 that were filed prior to this amendment. The Reporting Person currently beneficially owns 99,925 shares of Class A common stock (excluding Earnout Shares).