Daniel Stewart Butterfield - Jul 1, 2021 Form 4 Insider Report for Slack Technologies, Inc. (WORK)

Role: Chief Executive Officer, Director
Signature: /s/ David Schellhase, as Attorney-in-Fact
Stock symbol: WORK
Transactions as of: Jul 1, 2021
Transactions value $: -$4,837,175
Form type: 4
Date filed: 7/6/2021, 05:02 PM
Next filing: Jul 21, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WORK	Class A Common Stock	Conversion of derivative security	$0	+229K	+23.5%	$0.00	1.2M	Jul 1, 2021	Direct	F1
transaction	WORK	Class A Common Stock	Sale	-$4.84M	-109K	-9.09%	$44.26	1.09M	Jul 1, 2021	Direct	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	WORK	Restricted Stock Units	Options Exercise	$0	-229K	-75%	$0.00	76.3K	Jul 1, 2021	Class B Common Stock	229K		Direct	F1, F3, F4
transaction	WORK	Class B Common Stock	Options Exercise	$0	+229K	+0.6%	$0.00	38.6M	Jul 1, 2021	Class A Common Stock	229K		Direct	F1
transaction	WORK	Class B Common Stock	Conversion of derivative security	$0	-229K	-0.59%	$0.00	38.4M	Jul 1, 2021	Class A Common Stock	229K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock is convertible without payment or consideration into one share of Class A Common Stock at the option of the holder and has no expiration date.
F2	Shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units (RSUs).
F3	Each RSU represents the right to receive one share of Class B Common Stock.
F4	The RSUs are subject to time-based and performance-based vesting criteria. The time-based vesting occurred with respect to 130,743 of the units on October 1, 2017; and the remaining units vested at a rate of 4.286% of the total RSU grant per quarter thereafter until June 20, 2019, at which point the remaining unvested units began vesting at a rate of 7.5% of the total RSU grant per quarter, subject, in each case, to the Reporting Persons's continued service with the Issuer on each such date. The performance-based criteria was satisfied upon the Issuer's listing and public trading of its Class A Common Stock on June 20, 2019.