Ryan Lawrence - Dec 2, 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role: General Counsel
Signature: /s/Ryan Lawrence
Stock symbol: SFT
Transactions as of: Dec 2, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/6/2021, 04:22 PM
Previous filing: Nov 8, 2021
Next filing: Apr 26, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SFT	Class A Common Stock	Award	$0	+165K		$0.00	165K	Dec 2, 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share of Shift Technologies, Inc. (the "Company").
F2	On the first Vest Date falling on or after November 1, 2022, 25% of the award shall vest. The remainder shall vest in equal tranches over three years, with 1/12th of the total award vesting on each of the subsequent Vest Dates (Vest Dates are the 20th of February, May, August and November). However, the first and last quarterly vesting tranches shall be adjusted according to the number of days elapsed during the period from November 1, 2022 to the first Vest Date.

Content

Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share of Shift Technologies, Inc. (the "Company").

On the first Vest Date falling on or after November 1, 2022, 25% of the award shall vest. The remainder shall vest in equal tranches over three years, with 1/12th of the total award vesting on each of the subsequent Vest Dates (Vest Dates are the 20th of February, May, August and November). However, the first and last quarterly vesting tranches shall be adjusted according to the number of days elapsed during the period from November 1, 2022 to the first Vest Date.