Kathryn R. Scolnick - Sep 10, 2023 Form 4 Insider Report for Owlet, Inc. (OWLT)

Role: Chief Financial Officer
Signature: /s/ Kirsten O'Donnell, Attorney-in-Fact
Stock symbol: OWLT
Transactions as of: Sep 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/12/2023, 09:28 PM
Previous filing: Aug 18, 2023
Next filing: Sep 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OWLT	Common Stock	Award	$0	+65.7K	+207%	$0.00	97.5K	Sep 10, 2023	Direct	F1

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	OWLT	Stock Option (Right to Buy)	Disposed to Issuer		-17.7K	-100%		0	Sep 10, 2023	Common Stock	17.7K	$65.38	Direct	F2
transaction	OWLT	Stock Option (Right to Buy)	Award		+17.7K			17.7K	Sep 10, 2023	Common Stock	17.7K	$4.21	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Constitutes restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. 100% of the RSUs shall vest on September 6, 2024, subject to the Reporting Person's continued service to the Issuer through such vesting date.
F2	The two reported transactions involved an amendment of an outstanding option, resulting in the cancellation of the old option and the grant of a replacement option. The option was originally granted on November 15, 2021 and provided for vesting in accordance with the following schedule: 25% on the first anniversary of February 15, 2021 (the "Vesting Commencement Date") and in equal installments on a quarterly basis thereafter until the fourth anniversary of the Vesting Commencement Date.

Content

Constitutes restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. 100% of the RSUs shall vest on September 6, 2024, subject to the Reporting Person's continued service to the Issuer through such vesting date.

The two reported transactions involved an amendment of an outstanding option, resulting in the cancellation of the old option and the grant of a replacement option. The option was originally granted on November 15, 2021 and provided for vesting in accordance with the following schedule: 25% on the first anniversary of February 15, 2021 (the "Vesting Commencement Date") and in equal installments on a quarterly basis thereafter until the fourth anniversary of the Vesting Commencement Date.

Remarks:

On July 7, 2023, the Issuer effected a 1-for-14 reverse stock split of its Class A common stock. The share counts herein have been adjusted to reflect the reverse stock split.