Lev Ekster - Jan 15, 2024 Form 3 Insider Report for Bowlero Corp. (BOWL)

Role: President
Signature: /s/ Jason Cohen, Attorney-in-Fact
Stock symbol: BOWL
Transactions as of: Jan 15, 2024
Transactions value $: $0
Form type: 3
Date filed: 1/18/2024, 05:03 PM
Next filing: Sep 18, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BOWL	Class A Common Stock						11.7K	Jan 15, 2024	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
holding	BOWL	Performance Stock Unit							Jan 15, 2024	Class A Common Stock	5.04K		Direct	F2
holding	BOWL	Stock option (right to buy)							Jan 15, 2024	Class A Common Stock	51.6K	$15.41	Direct	F3
holding	BOWL	Stock option (right to buy)							Jan 15, 2024	Class A Common Stock	51.6K	$17.91	Direct	F3
holding	BOWL	Stock option (right to buy)							Jan 15, 2024	Class A Common Stock	51.6K	$20.41	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Includes 5,880 restricted stock units, each of which represents a contingent right to receive one share of Issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock") and which will vest in one-third installments on each of anniversary of the grant date of the award, subject to continued employment through each such vesting date. Includes 2,071 restricted shares ("Restricted Shares") of Class A Common Stock received pursuant to the Business Combination Agreement in connection with the acquisition by the Issuer of Bowlero Corp. (the "Acquisition"). The Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and will otherwise be forfeited on the 5-year anniversary of the closing of the Acquisition.
F2	Includes 4,200 performance stock units, each of which will convert to one share of the Issuer's Class A common stock upon achieving a specified price per share on or prior to December 15, 2024, subject to continued employment through December 15, 2024, and 840 performance stock units, each of which will convert to one share of the Issuer's Class A common stock upon achieving a specified price per share on or prior to January 2, 2026, subject to continued employment through January 2, 2026.
F3	The option agreement provides that the option will vest and become exercisable in one-third installments on each of the first, second and third anniversaries of the grant date. The option was granted on January 12, 2024.