Mary Fox - Apr 15, 2023 Form 4 Insider Report for Lovesac Co (LOVE)

Role
President and COO
Signature
/s/ Megan C. Preneta, as Attorney-in-Fact for Mary Fox
Stock symbol
LOVE
Transactions as of
Apr 15, 2023
Transactions value $
-$76,325
Form type
4
Date filed
4/18/2023, 04:05 PM
Previous filing
Mar 27, 2023
Next filing
May 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOVE Common Stock, $0.00001 par value Tax liability -$37.4K -1.31K -10.58% $28.49 11.1K Apr 15, 2023 Direct F1
transaction LOVE Common Stock, $0.00001 par value Options Exercise $0 +2.77K +24.99% $0.00 13.9K Apr 15, 2023 Direct F2
transaction LOVE Common Stock, $0.00001 par value Tax liability -$38.9K -1.37K -9.85% $28.49 12.5K Apr 15, 2023 Direct F3

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 +14.5K $0.00 14.5K Apr 15, 2023 Common Stock 14.5K Direct F4, F5
transaction LOVE Restricted Stock Units (Performance-based Vesting) Award $0 +14.5K +100% $0.00 29.1K Apr 15, 2023 Common Stock 14.5K Direct F4, F5
transaction LOVE Restricted Stock Units Options Exercise $0 -2.77K -33.33% $0.00 5.54K Apr 15, 2023 Common Stock 2.77K Direct F2, 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 withheld to satisfy the Reporting Person's tax liability in connection with the settlement of the first tranche of performance-based RSUs granted on April 15, 2022 that vested on March 23, 2023. No shares were sold.
F2 The reported shares were acquired upon the vesting of the first tranche of time-based RSUs granted on April 15, 2022.
F3 The reported shares were withheld to satisfy the Reporting Person's tax liability in connection with the settlement of the first tranche of time-based RSUs granted on April 15, 2022. No shares were sold.
F4 Each RSU represents the contingent right to receive, upon vesting and settlement of the RSU, one share of the Issuer's common stock.
F5 On April 15, 2023, the Reporting Person received a grant of 29,088 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.