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

Role
Chief Financial Officer
Signature
/s/ Kirsten O'Donnell, Attorney-in-Fact
Issuer symbol
OWLT
Transactions as of
10 Sep 2023
Net transactions value
$0
Form type
4
Filing time
12 Sep 2023, 21:28:58 UTC
Previous filing
18 Aug 2023
Next filing
20 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OWLT Common Stock Award $0 +65,719 +207% $0.000000 97,468 10 Sep 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 -17,650 -100% 0 10 Sep 2023 Common Stock 17,650 $65.38 Direct F2
transaction OWLT Stock Option (Right to Buy) Award +17,650 17,650 10 Sep 2023 Common Stock 17,650 $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.

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.