Sean Foy - Oct 13, 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role: Chief Operating Officer
Signature: /s/ George Arison, attorney-in-fact for Sean Foy
Stock symbol: SFT
Transactions as of: Oct 13, 2021
Transactions value $: -$89,740
Form type: 4
Date filed: 10/15/2021, 11:46 AM
Next filing: Dec 6, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SFT	Class A Common Stock	Other	-$89.7K	-8.97K	-2.65%	$10.00^*	329K	Oct 13, 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Forfeiture of shares of company common stock held in escrow in connection with the closing of the merger (the "Merger") of Shift Platform, Inc., a Delaware corporation (formerly known as Shift Technologies, Inc.), with a wholly-owned subsidiary of the company, and returned to the company due to the reported closing sale price of the company's common stock not exceeding $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020.
F2	The merger agreement entered into in connection with the Merger placed a value on the company's common stock of $10 a share.

Content

Forfeiture of shares of company common stock held in escrow in connection with the closing of the merger (the "Merger") of Shift Platform, Inc., a Delaware corporation (formerly known as Shift Technologies, Inc.), with a wholly-owned subsidiary of the company, and returned to the company due to the reported closing sale price of the company's common stock not exceeding $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020.

The merger agreement entered into in connection with the Merger placed a value on the company's common stock of $10 a share.