Ayman Moussa - 30 Jun 2023 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC.

Role: Chief Executive Officer, Director
Signature: /s/ Scott Hodgdon, Attorney-in-fact for Ayman Moussa
Issuer symbol: N/A
Transactions as of: 30 Jun 2023
Net transactions value: $0
Form type: 4
Filing time: 05 Jul 2023, 19:43:02 UTC
Previous filing: 16 Jun 2023
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	+950,000		$0.000000	950,000	30 Jun 2023	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	+950,000		$0.000000	950,000	30 Jun 2023	Class A Common Stock	950,000		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	237,500 of the RSUs vest on June 30, 2024. The remaining 712,500 RSUs vest in 12 equal quarterly tranches thereafter. Vested RSU awards are settled during the Company's next open trading window 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 December 31, 2023, subject to the achievement of the applicable pre-determined performance target for the applicable performance period 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.