Eric R. Tapia - Nov 1, 2023 Form 4 Insider Report for TuSimple Holdings Inc. (TSP)

Role
Chief Financial Officer
Signature
Eric Tapia
Stock symbol
TSP
Transactions as of
Nov 1, 2023
Transactions value $
-$16,206
Form type
4
Date filed
11/3/2023, 09:09 AM
Previous filing
Oct 18, 2023
Next filing
Jan 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSP Class A Common Stock Options Exercise +30.4K +65.98% 76.5K Nov 1, 2023 Direct F1
transaction TSP Class A Common Stock Options Exercise +15.8K +20.7% 92.4K Nov 1, 2023 Direct F1
transaction TSP Class A Common Stock Sale -$16.2K -13.6K -14.67% $1.20 78.8K Nov 2, 2023 Direct F2, 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 TSP Restricted Stock Units Options Exercise $0 -30.4K -25% $0.00 91.3K Nov 1, 2023 Class A Common Stock 30.4K Direct F4
transaction TSP Restricted Stock Units Options Exercise $0 -15.8K -7.14% $0.00 206K Nov 1, 2023 Class A Common Stock 15.8K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The Reporting Person received Restricted Stock Units ("RSUs") that represent a contingent right to receive one share of Class A Common Stock for each RSU upon the satisfaction of applicable vesting conditions. The shares were issued pursuant to vested RSUs.
F2 The sales reported represent shares of Class A Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $1.025 to $1.275, inclusive. The Reporting Person undertakes to provide to the Issuer, the security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range(s) set forth in this Form 4.
F4 The Reporting Person was granted RSUs which represent a contingent right to receive one share of Class A Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied over a four-year period. 25% will vest on July 7, 2023 and 12.5% of the RSUs shall vest each six-months thereafter, subject to the Reporting Person's continuous service with the issuer.
F5 The Reporting Person was granted RSUs which represent a contingent right to receive one share of Class A Common Stock for each RSU. The RSUs are subject to a service-based vesting requirement, which shall be satisfied in sixteen equal quarterly installments beginning on April 1, 2023, subject to the Reporting Person's continuous service with the issuer on such vesting date.