Joe Eng - Nov 17, 2021 Form 4 Insider Report for BTRS Holdings Inc. (BTRS)

Role: Chief Information Officer
Signature: /s/ Keith Omsberg, Attorney-in-Fact
Stock symbol: BTRS
Transactions as of: Nov 17, 2021
Transactions value $: -$39,223
Form type: 4
Date filed: 11/19/2021, 03:29 PM
Previous filing: Sep 14, 2021
Next filing: Mar 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BTRS	Class 1 Common Stock	Tax liability	-$39.2K	-4.45K	-1.52%	$8.82	289K	Nov 17, 2021	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") received pursuant to Section 3.07 (the "Earnout Rights") of that certain Business Combination Agreement, dated as of October 18, 2020 and as amended, by and among the Issuer and certain other parties thereto. Each RSU represents a contingent right to receive one share of class 1 common stock of the Issuer. The number of RSUs issuable pursuant to the Earnout Rights was determined, and the Reporting Person's right to receive such RSUs subject to the Earnout Rights became fixed and irrevocable on February 10, 2021, the date on which the Issuer's closing share price equaled or exceeded $12.50 and $15.00 for 20 trading days within a consecutive 30-trading day period.

Content

Represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") received pursuant to Section 3.07 (the "Earnout Rights") of that certain Business Combination Agreement, dated as of October 18, 2020 and as amended, by and among the Issuer and certain other parties thereto. Each RSU represents a contingent right to receive one share of class 1 common stock of the Issuer. The number of RSUs issuable pursuant to the Earnout Rights was determined, and the Reporting Person's right to receive such RSUs subject to the Earnout Rights became fixed and irrevocable on February 10, 2021, the date on which the Issuer's closing share price equaled or exceeded $12.50 and $15.00 for 20 trading days within a consecutive 30-trading day period.