Oded Shein - 05 May 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC.

Role
Chief Financial Officer
Signature
/s/ George Arison, Attorney-in-fact for Oded Shein
Issuer symbol
N/A
Transactions as of
05 May 2021
Net transactions value
$0
Form type
4
Filing time
06 Dec 2021, 16:23:33 UTC
Next filing
28 May 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Award $0 +204,983 +2050% $0.000000 214,983 05 May 2021 Direct F1, F2, F3, F4
transaction SFT Class A Common Stock Award $0 +93,750 +44% $0.000000 308,733 02 Dec 2021 Direct F1, F4, F5

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 +68,328 $0.000000 68,328 05 May 2021 Class A Common Stock 68,328 $0.000000 Direct F6
transaction SFT Performance Stock Units Award $0 +31,250 +46% $0.000000 99,578 02 Dec 2021 Class A Common Stock 31,250 Direct F7
* 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 25% of the RSUs vest on March 15, 2022, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
F3 RSUs granted to the reporting person on 5/5/2021 are being reported late due to an administrative oversight. Because the RSUs are being reported in Table 1, the reporting person's Form 4s filed since 5/5/2021 underreported his ownership by 214,983 shares.
F4 The reporting person holds a portion of the shares in an account with his spouse as joint tenants with rights of survivorship.
F5 25% of the RSUs vest on March 15, 2023, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
F6 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 March 14, 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.
F7 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 March 14, 2024, 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.