Frank R. Martire - 31 Jul 2023 Form 4 Insider Report for System1, Inc. (SST)

Role: Director
Signature: /s/ Frank Martire Jr.
Issuer symbol: SST
Transactions as of: 31 Jul 2023
Net transactions value: $0
Form type: 4
Filing time: 02 Aug 2023, 21:51:22 UTC
Previous filing: 14 Feb 2023
Next filing: 14 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Award	$0	+80,419	+251%	$0.000000	112,419	31 Jul 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a grant of 80,419 restricted stock units ("RSUs) which convert into Class A Common Stock on a one-for-one basis, pursuant to the 2022 Incentive Award Plan of the Issuer in connection with Mr. Martire's continued service as a member of its Board of Directors as of the close of business on the date of its annual shareholder meeting. The RSUs vest in four (4) substantially equal quarterly installments on each of September 15, 2023, December 15, 2023, March 15, 2024 and June 15, 2024 as long Mr. Martire continues to serve as a Director of the Issuer through the applicable vesting dates.
F2	Includes 80,419 unvested RSUs.

Content

Represents a grant of 80,419 restricted stock units ("RSUs) which convert into Class A Common Stock on a one-for-one basis, pursuant to the 2022 Incentive Award Plan of the Issuer in connection with Mr. Martire's continued service as a member of its Board of Directors as of the close of business on the date of its annual shareholder meeting. The RSUs vest in four (4) substantially equal quarterly installments on each of September 15, 2023, December 15, 2023, March 15, 2024 and June 15, 2024 as long Mr. Martire continues to serve as a Director of the Issuer through the applicable vesting dates.

Includes 80,419 unvested RSUs.