Albert Jack Krause - Apr 15, 2023 Form 4 Insider Report for Lovesac Co (LOVE)

Role: Chief Strategy Officer, Director
Signature: /s/ Megan C. Preneta, as Attorney-in-Fact for Jack A. Krause
Stock symbol: LOVE
Transactions as of: Apr 15, 2023
Transactions value $: -$74,216
Form type: 4
Date filed: 4/18/2023, 04:06 PM
Previous filing: Mar 27, 2023
Next filing: May 22, 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	-$36.4K	-1.28K	-0.78%	$28.49	162K	Apr 15, 2023	Direct	F1
transaction	LOVE	Common Stock, $0.00001 par value	Options Exercise	$0	+2.77K	+1.71%	$0.00	165K	Apr 15, 2023	Direct	F2
transaction	LOVE	Common Stock, $0.00001 par value	Tax liability	-$37.8K	-1.33K	-0.8%	$28.49	164K	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 (Performance-based Vesting)	Award	$0	+13.7K		$0.00	13.7K	Apr 15, 2023	Common Stock	13.7K		Direct	F4, F6
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 restricted stock units ("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.
F6	On April 15, 2023, the Reporting Person received a grant of RSUs which vest in a single tranche based on the Issuer's achievements of certain stretch financial performance targets for the performance period.