Henry R. Hague III - Jul 1, 2021 Form 4 Insider Report for Clever Leaves Holdings Inc. (CLVR)

Role: Chief Financial Officer
Signature: /s/ David Kastin, Attorney-in-Fact
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 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLVR	Common shares	Award	$0	+19.6K	+32.64%	$0.00	79.6K	Jul 1, 2021	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	CLVR	Restricted Share Units	Award	$0	+19.6K		$0.00	19.6K	Jul 1, 2021	Common shares	19.6K		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.