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

Role
President
Signature
/s/ George Arison, Attorney in fact for Jeff Clementz
Stock symbol
SFT
Transactions as of
Dec 2, 2021
Transactions value $
$0
Form type
4
Date filed
12/6/2021, 04:23 PM
Previous filing
Oct 1, 2021
Next filing
Jun 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Award $0 +645K $0.00 645K Dec 2, 2021 Direct F1, F2

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 SFT Performance Stock Units Award $0 +195K $0.00 195K Dec 2, 2021 Class A Common Stock 195K $0.00 Direct F3
* 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 58,634 of the RSUs vest on April 1, 2022. Of the remaining 586,338 RSUs, 25% vest on October 1, 2022 with the remainder vesting in 12 equal quarterly tranches. Vested RSU awards are settled during the next open trading window of the Company following each calendar quarter. Vesting is subject to continued employment with the Company or an affiliate of the Company.
F3 Represents a grant of Performance Stock Units ("PSUs"). Each PSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of the Company. The PSUs vest quarterly over the two-year period commencing on October 1, 2023, subject to the achievement of the applicable pre-determined performance target for the applicable performance year and the continued employment with the Company or an affiliate of the Company (subject to certain exceptions for termination without cause or for good reason as described in the award agreement). Vested PSUs are settled during the first open trading window of the Company following each calendar quarter.

Remarks:

Exh 24 Power of Attorney