Kyle Detwiler - Jul 1, 2021 Form 4 Insider Report for Clever Leaves Holdings Inc. (CLVR)

Signature
/s/ David M. Kastin, under power of attorney
Stock symbol
CLVR
Transactions as of
Jul 1, 2021
Transactions value $
$0
Form type
4
Date filed
7/2/2021, 10:10 AM
Next filing
Jan 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLVR Common shares Award $0 +29.4K +1.35% $0.00 2.2M Jul 1, 2021 Direct F1, F2
holding CLVR Common shares 236K Jul 1, 2021 Held by Silver Swan, LLC

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 CLVR Restricted Share Units Award $0 +29.4K $0.00 29.4K Jul 1, 2021 Common shares 29.4K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted share unit represents the contingent right to receive one common share of the Issuer.
F2 The restricted share units will vest in four equal annual installments commencing on the first anniversary of the grant date, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.
F3 The restricted share units vest when they have both time-vested and performance-vested, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates. The restricted share units will (i) time-vest in four annual installments as follows: 10% on July 1, 2022; 20% on July 1, 2023; 30% on July 1, 2024; and 40% on July 1, 2025, and (ii) performance-vest based on the achievement of certain share price performance conditions on or prior to December 18, 2024.